I was expecting the usual literal, liberal, pizza cats debate. While not answered, and never likely to be, I will say it is somewhat played out. This however still has something to it.
Anyway consistency between releases... it is a thing with appeal* but I would happily accept a discussion if it is a matter of clarity and aesthetics -- fire1, fire2, fire vs fire, fira, firaga has all sorts of things that can be discussed as far as ease of play, aesthetics and so forth.
*I remember once I was watching some anime show (think it was Eureka 7). About 30 episodes in the fansub group decided they had made an error with some key component of the show and went with a more literal translation. In both cases it was a proper noun though and having got used to the "error" it threw me somewhat. While not quite what you were discussing here it was the biggest throw like that I have experienced outside of Aeris-Aerith.
You also have the usual fun of something that is clearly a sushi ball being anything but in the English version. In one case though the sequel decided late 90s people would know enough of Japanese culture/cuisine to know what such a thing was and not overheat in confusion or something.
It might also depend upon the game/era -- a modern home console game would think nothing of having a paragraph long description (and possibly some stats) where for a 16 bit equivalent even having the MP cost might be something of note. If you can have a description then having some transliterated proper name or something is not an awful plan. I recall playing an instruction manual free version of one of the megadrive phantasy star games once and having some trouble with the spells and items here, such that I almost experimented and had to deduce what things were doing what.
Another thing I might consider is the popularity of the title. Most people around me got introduced to Final Fantasy with 7 on the PS1 -- we had magazines and emulators but Europe skipped the earlier NES and SNES entries. To that end they would probably be forgiven a lot in Europe if 7 introduced new names for things which might have been established in 6 numbered games (depending upon how you count) and the legend entries on the GB.