http://vo-ot360.sega.jp/update.html
Just some preliminaries:
Title update is dropping July 1st - pretty much the features that have been previously discussed is going to be on there. Also if I'm understanding this correctly, they're retaining the ability to save Leaderboard game clips but just not allowing a re-upload to the Leaderboards.
For those people who are sitting on the fence about the Hori twin sticks, a few updates:
1) Production has been green-lighted
2) Looks like Hori has listened to the demands of the fans and is working on a re-design including making the spacing between the sticks closer to the arcade version and also remodeling the grips to be closer to the arcade version

Of course they warned that there may be a longer delay, but who cares.
I don't know if those details will sway people one way or the other, but pre-order deadline is still July 2nd @ 3pm (Japan time) so there's still time to get a pre-order in with shopNCSX.com or whoever
An XBLA Oratan tournament is being held in Japan on July 4th. Not sure if it's only open to Japanese or not. Semi-finals will apparenty be broadcast for all to see on peercast.org (?)
Maybe one of the Japanese/Japanese-literate members of the board can elaborate on that.
All-in-all I'm still amazed at the amount of support an Xbox Live arcade game like this is getting.
Edit: apparently it's not just the stick spacing and the grips being changed, but the whole base housing of the twin sticks also is being remodeled