Okay, well it's not entirely in English. While the logos and superimposed text in this Disgaea 3: Absence of Justice trailer are all in English, the in-game footage being showcased here are mostly from the Japanese version. The message should still come across the same, however -- the game is looking pretty hot as far as S-RPGs go.
Reminding us of demon penguins and damage point totals ranging up into the bajillions, Disgaea 3 seems to have everything we want from the series. Just don't forget to pre-order the game before its release in August. You'll want to pick up the bonus soundtrack. You know, the one you can customize.