In my personal opinion, the English ones aren't really worth the wait or the extra cost, because it's most likely that you'll have to pay even more for the English P's if it ever comes around. As with the iD LE's, middleman fees would have to be paid and prices would be jacked up on eBay. Maybe it's just me, but I don't really mind the Japanese. I can't understand anything on the P's, but after playing with the iD L (as Brittygotchi mentioned previously), it's not hard to navigate, and not being able to read the conversations doesn't bother me much either. It's more so the gameplay, features, characters, and adorable new animations that make this Tamagotchi so great.
Also, speaking from my own experience with the iD L, I think you should get the P's now while they're still available on the Japanese sites such as HLJ and CDJapan. I got back into Tamagotchis a bit too late, so the iD L's were all sold out on the Japanese sites by the time I realized that I wanted to try one out. By then, my only option was eBay, so I bought one for quite a bit more than what HLJ and CDJapan were offering them for. That's why I'm really glad that I was able to snatch a P's up on HLJ when the white one was relisted on low stock--I paid only $57 with shipping included. I've been thoroughly enjoying the P's and I've already purchased two more (again from one of the Japanese sites) so that I can fully appreciate the new connection features. I'm expecting my new piercings in the mail soon as well.
If you really love Tamas, I'd highly recommend just going for it and grabbing a P's at a discount price (HLJ offers them for 10% off) while you can, because once they're sold out on the Japanese sites, I'll bet that you'll sorely regret not getting one for the lower price while you could. This is a really fun new Tama, and I personally don't believe that the possibility of an English release should outweigh the amount of fun you could be having with it in the meantime.
(LOL, sorry for that novella, but I really want to encourage you guys to get the P's while you can!