Project D did not turn out to be something dirty, Nippon revealed. Instead, it's a new Disgaea game!
Disgaea was pretty popular, at least within the very broad audience into niche SRPGs from the early 2000s with a deeply Japanese absurdist sense of humor. In fact, it got a few sequels and spin-offs, including Prinny: Can I Really Be the Hero? and Disgaea Infinite. None of those were really directly related to the first game, though, doing the familiar Final Fantasy or Bruce/Evan Almighty route to sequeling, where the following stories are just in the same "family." No longer is that the case.
Disgaea Dimension 2 is a direct sequel to Disgaea, starring Laharl, Etna, and Flonne, and features an all new quest. It's, as to be expected for the series, an SRPG of the tactics subgenre. "Cradle Over" by Minori Chihara will be the opening song for the game, which may or may not be like Cradle 2 the Grave.
As for the limited edition, that comes with a hard cover art book, two CD OST, Niitengo figures of Etna and Flonne, and the game itself. This, for the low, low price of 10,800 yen, or $136.
The game itself is around 7,140 yen, or $90. Pretty pricey, but that's a difference in the economy, not an overpriced game. Get your economics mind right! This'll be on the PlayStation 3 on March 20th in Japan, and... some time after that if it comes to the US of A.