Last month, publisher AQ Interactive confirmed that Blue Dragon Plus for the Nintendo DS had been delayed, but that it would be coming this summer. Translations from the publisher's official BDP site (via NeoGAF) indicate the game is set to be a "simulation RPG." The description and subsequent new screenshots remind us of Final Fantasy XII: Revenant Wings (not a bad comparison, mind you).
The site also seems to indicate that BDP takes place just after the events of the first Blue Dragon.