Yep, you're not imagining it. That's really an ESRB page showing its rating for Wild Arms 2, and coming to the PlayStation Network to be made available to both the PS3 and the PSP.
This is your chance at another square-off with the terrorist group Odessa, as a member of ARMS. ARMS is an international anti-terrorist group that was created for the sole purpose of crushing Odessa's evil plans.
No date for release was indicated, but you can be sure you'll be able to download this as a PSOne Classic. At least it did finally come to North America. Japan had this since 2007.