24 Caret Games have announced they have finished development on Retro/Grade and the game is set to come out across the USA on the PS3 PSN on 21st August. 24 Caret Games have also announced they will be selling the soundtrack to the game, there will be a game + soundtrack discounted bundle too. Retro/Grade is a shoot'em up style game where you have to play backwards to restore space time. the game can be played with either a controller or with a PS3 guitar controller.
Source: USA Playstation Blog