Some amazing news today for Okami fans, as it has been revealed that an HD re-release is currently in the works at Capcom. The touch of not-so-amazing news though is that this has not yet been confirmed for release in North America.
While that's not disconcerting yet, as the confirmation comes from a Japanese source, it wouldn't hurt to break out the stationery and write Capcom a pleading letter to show your support. The original release did not perform spectacularly, so it's certainly not out of the question that Capcom might forego a North American release this time.
Little is known about the title at this point, however we do know that the game will include PlayStation Move support, similar to the Wii version of the game that released in 2008. Also, Famitsu and Andriasang have quoted the game at 3990 Yen, which would indicate a Western cost of $40 if it does get released here. They're also listing a November 1 release date.
We'll have more on this story if we get confirmation from Capcom or word of a North American release. HD collections of treasured PS2-classics are all the rage these days, so it's still possible.
UPDATE: Capcom has just issued a confirmation. Okami HD will be releasing on PSN later this year, and the news is even better than we thought. Rather than the $40 we had assumed based on the Japanese price...it will instead be launching at a mere $20. They've also issued a launch trailer which can be seen below: