"Has Sony made FromSoftware a well respected studio?"
No, they were known for their Armoured Core games way before Souls came along. Demon's Souls is actually the spirtual succesor to their King's Field series. Sony actually passed on publishing the game internationally.
That said From Software are known for creating hardcore games, but their games tend to perform poorly on a technical level.
If Sony handle the technical side of BloodBorne is should be something special. That said, even now if I wouldn't run out and buy a new game just because it had From Software's logo on the box.
It it were Platinum Games' though... :D