If you have a Wii, get the Wii version (I have this version and play it using GeckoOS on my NTSC-U Wii):
Buy Taiko no Tatsujin Wii (no restock until 2009) (Nintendo Wii) - Order Now!
That version has the most songs for a TV console version (70).
Otherwise, there's the English PS2 version?
Buy Taiko Drum Master (w/ Taiko Controller) (PS2) - Order Now!
I'm assuming you can play the JP versions with the drum that comes with the English version as well. Not sure on this one...
I've heard that the Wii drum is better than the PS2's because of the stand, but I have no idea otherwise, since I've never seen the PS2 drum. Can someone with both tell us how it is?