@Night_slayer:
Well i have the feeling there is not that many Western readers for light novels. Probably around 1000 at best.
This statement warrants discussion. See the problem with the current light novel publishers is that they focus on light novels that are based on anime that are currently popular. However, due to the difficulty of translating and publishing the novels by the time the novels come out several years have gone by and even the big anime fans have moved on to other things. Plus they can't keep up with the fan translators so everyone who wants to read the story already has.
Add that to the fact that most of the big-name popular light novels have some creepy element that won't appeal to any readers outside of hardcore anime fans (for example: the incest in SAO), and yeah you've got yourself a bad situation.
What light novel localizers SHOULD be doing is selecting series that don't have anime and that don't contain elements that would automatically turn most Americans' stomachs. That way they're not constantly trying to ride the wave of popularity and are instead putting out series that are solid to read no matter when they come out. If the coupled good series selection with better marketing… y'know not selling their light novels next to all the manga and actually treating them like normal novels to be sold to everyone, then they could get a lot farther.
However they would also need the support of the anime fans themselves. When they tried making Spice and Wolf look more like a normal novel by changing the cover art there was an enormous amount of backlash from the anime community. We need to learn to accept decisions aimed at making light novels more successful in the West or they're never going to have a chance.
Here's how I would localize a light novel: I would take 2-3 volumes of it at a time to make it the length of an actual normal novel in America, I would pick a series that avoids any icky stuff that would turn off Western readers, I would take out all the art or get a Western artist to replace it, and I would do a lot more marketing both online and through other outlets. Now sure I'd get tons of backlash from the anime community, but most of them would still buy it despite their outrage, whereas the non-anime lovers definitely would NOT buy it if I didn't make these changes.