I think what we should keep in mind is that we're basically serving an English-speaking audience that's been exposed to localized stuff, so I tend to agree with going along with localization. I don't think doing that has to be inconsistent with acknowledging the creator's intent, so long as we acknowledge the original name or title up front. Using localization is only an issue and an affront to the original Japanese if we make like 4Kids and act like it doesn't exist.
Any counter arguments?
I would suggest that it's not the medium, but the quality of perception and expression, that determines the significance of art. But what would a cartoonist know? -Bill Watterson