Now that Japan is starting to get Neo Geo games again, I am hoping that NA and EU will follow suit. One of the games announced for Japan is a game called Ironclad (Fatal Fury Special is the other). This game will be the first Neo Geo CD games released on the VC, and it looks awesome! It was never released in America, so it would have to be an import. Most of the text though appears to be in English, so it shouldn't be a problem. Check out the footage of it. I would gladly pay import prices for it.
http://www.youtube.com/watch?v=3ca630TvRIw

That does look great. I'm surprised the Neo Geo doesn't have more shoot them ups. It'd certainly be nice to have another co-op one on VC, of which there are few so far.

The entire game is in English. All Neo Geo games released worldwide have both Japanese and English versions of the same game on the same cart/CD, and the one you get to play depends on the region of your console. Ironclad was intended for worldwide release, so even though this didn't actually happen, a fully English version of the game is still included on the disc.

What Adamant said, except I would like to say it's likely.

Before I saw the video, for some reason I thought Iron Clad was gonna be a beat'em up. Why? I don't know, it sounded like it to me.

I was really pleased to read about Ironclad, when Nintendo Life released the Japanese Virtual Console release list. Just like @brooks83 I headed straight to You Tube to check out a video and I really liked the look of its chunky sprites and background flaming buildings first level. The forked pathways will be good for the re-playability and as has been mentioned, we would be lucky to get this on Western Virtual console, particularly as I think that it is quite rare. I would happily pay the extra points, as an import game price.
This is precisely the type of retro game I get excited about, a hidden gem which I have not heard of before. Cool.

I'd totally get it if it came out in NA! I love shmups, and Iron Clad looks pretty cool!