Square-Enix’s re-imaging of Lufia II will be launching next month on the 19th thanks to Natsume, the original publisher of the series in North America.
Despite being based off Lufia II, Curse of the Sinistrals does much to set it apart from the original title. The DS remake rids of the turn based combat system for an action RPG gameplay style. New characters, events, and dialoge have been added to the game, along with a completely new world map with new towns and dungeons. Comparing it to Lufia II would probably be like comparing the original Silent Hill to Shattered Memories.
As for a European release, I’ve yet to see anything about it. I’ll keep you updated if that changes.