Valhalla Knights 2 coming to Japan in 2008
Hopefully, Marvelous will address some of the complaints in the sequel, though it already sounds like they're going in the right direction. The game will have over 350 different pieces of armor and weapons for your characters, as well as 60 scenario quests and outdoor levels (which will hopefully break up the nonstop dungeon crawling). The title is scheduled to come out in Japan in 2008 with no American release mentioned.
[Update: First images of the game have surfaced at Jeux-France.]