What Valve more recently stated was that they are re-examining the idea of developing on the PS3 due to the changes it has made in its rate of adoption.
The PS3 user base is growing; nobody is arguing this point. Lots of PS3 owners would potentially buy LFD. But Valve has to measure the cost to benefit ratio of either devoting a portion of their somewhat limited worker resources to development on the PS3, in effect, establishing a new development team, or handing it off to a third party.
Before they hand off their new IP to a third party, or even green light the idea of PS3 port, LFD must first be reasonably successful (very likely) on PC and 360. If not, odds of LFD on the PS3 go down.
If they plan on developing on the PS3 if its user base continues to expand as it has been, eventually, they will see an upside to devoting internal development resources to the platform. An LFD port, should the IP prove to be successful, would be the logical starting point.
Either way, it will take a considerable amount of time to see this happen. I'm thinking that the one year spread between versions of Bioshock would be comparable. I'm also pretty certain Valve will be watching the commercial results of Bioshock on the PS3 with great interest. If it sells below expectations, odds of LFD on the PS3 go down.
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