Bakuman will be licensed first because it has the "From the creators of Death Note!" marketing line. Plus, with how manga works in Japan being even less known among American manga fans (there are a fair amount who really don't read Edited Mangas, just licensed stuff) it could sell pretty well off of the novelty of finding out how manga is actually made. And I'd say that the fact that Bakuman chapters get put up translated on the Jumpland website (although I don't know if Viz does the translating) is probably an indication that they're trying to push Bakuman in an English market.
But Viz DOES like to license hits quickly. I mean, Tegami Bachi (why they're calling it this when the Japanese logo itself says "Letter Bee", I don't know...) is about two years old, yet because it's been one of the bigger series' in Jump S.Q., they're licensing it. Gintama is a bit of an otaku manga, so it'd be harder for American fans to get the jokes, and it's also not a top tier series, so it figures that Viz waited a while. By the time it gets to 10 volumes or so, Toriko could very well be licensed. Even sooner if it manages to get a spot on the Big 3, or turn it into a Big 4. I'm still hoping that it dethrones Bleach, but that's a different issue...
