From Anime News Network:
The North American distributor Bandai Entertainment has announced at its New York Comic Con 2008 panel at 17:43 on Friday that it has licensed Hiroyuki Imaishi and Gainax's Tengen Toppa Gurren Lagann robot anime series. Another distributor, ADV Films, had announced at Anime Expo 2007 in July that it had licensed this series. However, ADV Films then removed this series and many others from its catalog in January, and did not restore Gurren Lagann's place in its catalog when the other titles returned in February.
The story begins on a future Earth where people are forced to live in isolated underground villages. One boy uncovers a key to a robot, and the resulting adventures put him in the battles waging on the surface and lead him to the secrets behind humanity's new existence.
There's also some news about its initial Summer 2008 release being Sub-only, while in 2009 there will be rerelease DVD with the original Japanese audio and a newly-made English dub.
So rejoice, the anime that everybody has a great big stiffy for is finally arriving.