Localization on the iPhone

I know the old TGE engine which I am fairly familiar with had a way to handle localized text. Development-wise that meant storing things into a string table using a tool and then mapping thing across where necessary. Script-wise it meant keeping text and data as seperate as possible, plus organizing our burnt in text assets accordingly so they could be re-targetted.

As anybody had any experience with Torque2D and localization, specifically for the iPhone. I know a majority of the apps are English. Should we even bother with localization at all?