I suppose the most important thing is people are able to find what they are looking for in the database. That's where the additional (optional) lines for naming albums come in handy.
I don't think it makes much sense just to romanize a title when you could translate it, even if there is no official English translation available. I would therefore, in the example you mentioned, input "Record of Agarest War" as the English title and "agarest senki" as the romanisation.
In case the romanized title is widely known to English speakers though (Sakura Taisen, Seiken Densetsu) I'd simply put the English translation under "line 4+: others" or in the notes (as no one's going to look for Seiken Densetsu 2 under "Legend of the Holy Sword 2", and it'd be odd to have that as an alternative title)
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