I'm happy about this announcement though it's a shame Namco decided to go down the port route rather than remaking the game (it's not like this is a risky release either), would have been nice to see more than just the same game rendered at higher resolution. Ocarina of Time 3D set the new benchmark for memory-preserving remakes.
I'm just hoping that they mean it's based off the PS2 version in terms of content, rather than the cut framerate to 30fps and other cutbacks that version had (I'll certainly miss the GC opening song, too, which was changed for the PS2 edition).
It'll also be interesting to see how this sells. The original Symphonia had Nintendo's backing, both from a localisation and marketing front, and was purchased by far more than just "Tales" fans as a result.
As far as I'm concerned, Dawn of The New World doesn't exist.