Update: 4790 seems to be working fine. I guess I will stick to this one for a while. It's faster than 4716 and thus far no freeze. 4716 didn't run as well as 4790 once I got 4 people in the party. The slow down in battle was very noticeable.
I am not sure why u are having this problem. I am using the config in the first page (besides D3D9, of course) and I don't have any problem like you mentioned.
hm, maybe someone in here can help me...
this is not a new problem. I'm using a PS3 controller. every button works fine exept the L and R...
well, actually the R button works (as it is needed to look at the enemy's HP). but the L button never worked for me...
that button would be usefull too...
anyone with the same problem?
edit:
nevermind got it solved!
How well would this run on a dual core 2.8ghz? has anyone tested this with a dual core?
You have to tell us what kind of dual core it is. Just saying it's a dual core isn't really enough.
Is there an english translation patch available for that game just like for Fatal Frame 4?
Yes, It's expected to be done around Summer 2010, publisher unknown...
A actual patch, Nope, because Tales Of games are notoriously difficult to translate quickly and/or efficiently.
Can you give the source please gouken?

Well, it will be released by Nintendo, thanks to Namco Tales Studio...
Probably will be Atlus or Square Enix releasing.
There's no publisher known yet for the US version, and btw i just read yesterday by chance, that the JP version was callbacked hahahah, due it's high amount of bugs
causing way too much freezes and dead ends during gameplay. So funny.. and the title of the article was something like: "Good thing that you can not patch wii games"
On IGN or somewhere, I've heard that this game is not coming to the US anymore. I've also heard that namco Bandai has recalled Tales of Graces for having too many bugs in the game. Players have been unable to acquire certain stuff in the RPG, have compained of freezing issues, and more. So for the people who have tested this with Dolphin, I don't really think its the emulators fault for the game not working all the way.
Source for recall:
http://www.vg247.com/2010/02/23/tales-of-graces-recalled-in-japan/