According to Game Stop it looks like Wild Arms 5 is scheduled for release this month on August 28, 2007.
12,000 years ago, the world of Filgaia was a land immersed in technology far beyond anything found in the present day. For reasons unknown, however, the citizens of this advanced culture suddenly abandoned their technology, leaving the future of the human race to live in a comparatively primitive state. All that remained of this once great civilization were some scattered mechanical parts and the occasional remnants of a legendary golem-huge mechanical devices built to serve mankind. While use of the old technology remained mostly out of reach, there were some who had begun to research the ancient devices, seeking even the faintest hope of enriching their lives on this desolate world.