From starmen.net:

"Thanks to gamefront and mother-jp.net we have learned some great news regarding Mother 3! Shigesato Itoi, the creator of the Mother series(in case you didn't know), recently posted on his blog that Mother 3 is definitely coming out in spring 2006 in Japan. There is no specific release date set, but with the current progress it is safe to assume that its release will not be hindered by any major delays or cancellations. Itoi has been working hard for a while now going on work retreats to work on the game with Brownie Brown and it seems to be paying off. The hardest parts are almost over with.

We also learned an amazing new detail: Both Mother and Mother 2(or Earthbound 0 and Earthbound, as they're known stateside) had engrossing stories filled with occasional sidequests and plenty of original dialogue. If you thought it took a while to complete the quests and suck in all that New Age Retro goodness in those games, wait until Mother 3 comes around. Itoi stated that the game features about twice the amount of scenario work as the first two titles. Get ready for a longer, more in-depth Mother adventure!"

Itoi Blog Entries Translated

I'm excited... and hoping Nintendo will consider releasing the game over here. If you couldn't grasp it, it should be twice as long as Earthbound.

Huzzah.

Twice as long as Earthbound? Holy frack! I love this news!