According to Famitsu, Interchannel-Holon is bringing the first and second installment in Nihon Falcom's long-running Ys RPG series to the Nintendo DS. These won't be simple ports, but rather full blown remakes with improved character animations and new features such as a boss fight mode and multiplayer mode supporting up to four players.
Although the pair has been bundled together in previous compilations, Ys I and II for DS will be sold separately for around 5040 yen ($44). Both titles are expected Spring 2008 in Japan. I wouldn't rule out a US release either, considering that a port of Ys: The Ark of Napishtim was released here for the PSP.
Ys I and II Getting DS Makeover [1UP]