On the official site (http://www.nintendo.co.jp/ds/yfej/index.html), Nintendo states that they may not release FE:DS in America/Europe.
There simply aren't enough games bought. Fire Emblem:Radiant Dawn sold sold less than 200K outside of Japan, and over 300K in Japan (as opposed to VGC, which has NA at 360K, and Japan at 170K).
After Path of Radiance, which sold over 500K in America, and 200K in Europe, thing looked bright. But after the dissapointing western sales of Radiant Dawn, they decided to drop it.
The big competition of RPGs on DS is also a problem.
As the DS is region free, western players may still import the game.
Whether or not FE:DS will be localised, is about 50-50 says the website. A 2008 release is out of the question.
If it isn't, the original might see a Wiiware release
http://www.vgchartz.com/games/userreviewdisp.php?id=261
That is VGChartz LONGEST review. And it's NOT Cute Kitten DS