Ys Seven will be first released on the PSP this September, and Falcom unveiled the official site for it today. There's no content up yet, but there is a link to the site for their retooled PSP port of Ys I & II Complete, called Ys I & II Chronicles.
You can expect them to have music demos available soon. It's already been confirmed that Ys Seven will feature the Five Dragons of Altago story that fans have been anticipating. I'm eagerly awaiting to play this!