$350 is a steal compared to 399.99 plus shipping at pretty much all sites.
When playasia first took pre-orders the price for it was $299 I think, but after that it went up to 399 due to the people they were getting more from had cost more..
The pspslim is a nice system very light, but I never owned a phat psp so I don't know the difference also the game looks great I can't play just yet, but the protectors will be here this week or next.. =\
About the text I think if you don't know how to read or know the language it's best to wait for the English one because i'm sure this'll have alot of text and on cutscenes etc. there'll be voices with subs, but only in Japanese.
I guess if your really impatient and want the game import it and use guides and stuff, but I think it'd be more fun playing it for the first time knowing what they're talking about or what is on the text.