Devoted fans spent over two years translating the PSP version of Digimon World Re:Digitize to English and it is nearly complete. They were originally supposed to release this by the end of 2014, but due to other commitments they had, they settled with a 2015 release.
The English translation covers it all. The names, descriptions, items effects and more. Their website will update soon about the release details now that it is 100% complete.
They also released a teaser video for Decode which shows a few scenes of the game that are already translated.