I've never played Xenoblade, but friends of mine who have rave about it. They say it is similar to FF 12, my favorite FF ever.
Anyway, the game is coming out in the US this April. The only place selling it will be GameStop. My local Gamestop, which is a very busy one, only has 10 preorders. 8 if you exclude me and an employee that works there.
So, why should you buy this game? Like Suikoden 2, it is coming out at the end of a system's life cycle. It is a cult RPG that will have a limited release (only people who preorder get one). The price for this game is bound to go up. May be worth checking out.
Also, hold on to your Mass Effect 1s, as the price for this game has gone up, too.