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Considering the financial situation Sony finds itself in it wouldn't be surprising to find out that they're looking over game projects that could be killed in order to save money.  Some titles are safe since they're so far along in development (Killzone 2, Gran Turismo 5, White Knight Chronicles, Heavy Rain).  Others are new IPs or older franchises that could be considered risky 


I've decided to make a list of known games that Sony has in their pipeline as well as my take on how safe they might be:

 

M.A.G. -  An extremely ambitious (256 player multiplayer) project inveiled at E3 2008 that Sony claims will be released in 2009.  Zipper Interactive is an extremely good developer with a list of hits to their name.  The only way this project might be at risk of being cut would be if it turns out that is isn't as far along in development as claimed or if they run into costly development problems that delays the game.

Analysis: Moderately Safe


Eyepet: Your Virtual Pet -  Sony needs a new craze to help give the PS3 momentum and this may just be it.  In development by SCE London Studios this game is expected to be released in 2009.  SCE London Studios as some may recall has already had 2 cancelled projects, Eight Days and The Getaway 3.  Also LittleBigPlanet has shown that such games may be a challenge to sell to PS3 gamers.  The one good thing in it's favor may be it's development budget which likely isn't as large as other projects Sony currently has in development.

Analysis: Slightly Unsafe


Eyedentify - Announced at E3 2005 this game hasn't been heard of since.  A strike against the game is it's use of a digital camera to control players in the game which could be considered risky.  Another strike is the the game appears to want to be both casual and hardcore which may end up alienating both groups.  If this game hasn't already been cancelled it's likely that it's at risk of it now.

Analysis: Very Unsafe


Twisted Metal PS3 - Part of a 3 game exclusive deal that Eat Sleep Play has with Sony.  It's unknown how far along in development the game is, or its expected release date.  One possible strike against this game may be that the Twisted Metal franchise appears to be in decline (in terms of sales, not quality).  Another problem is that a 3 game deal with Eat Sleep Play may become too much of a burden for Sony.

Analysis: Slightly Unsafe


Uncharted 2: Among Thieve - The first game in this franchise sold well on the PS3 so this is likely one of the most safe games in development for the platform.  Add in the fact that the engine has already been developed for the first game and it's likely that the cost of the game will also not be a major concern to Sony.

Analysis: Very Safe


Infamous - From a solid developer without the solid sales needed to make their projects a sure thing.  The status of this project will likely depend on how far along in development it is.  If this game is truly on track to come out in 2009 it's safe but if in fact it's really looking at 2010 or later then it could be on track to never becoming famous at all.  A truly risky project for Sony.

Analysis: Slightly Safe (if it's far enough along to come out in 2009)    Moderately Unsafe (Otherwise)


The Agency - From Sony Online Entertainment comes this MMO for the PS3.  MMO games have proven to be very risky of late and considering the release date is unknown for this game its likely one that Sony will look long and hard at when deciding which games they may need to cancel.

Analysis: Moderately Unsafe


DC Universe Online - Another MMO from Sony Online Entertainment that is expected "no later than early 2010".  Like The Agency this game could prove to be a major risk but unlike that title this one is based on a well known IP and if the release date is actually as claimed it stands much more of a chance of release.

Analysis: Slightly Safe


God of War III - The third installment of a successful franchise this title is all but guaranteed to see release.  It's likely one of the safest titles Sony has in development that hasn't been given a release date.  The only risk this title has is that David Jaffe is not involved with the game which may slightly lessen the chances of it being a sure hit.

Analysis: Very Safe


Unknown RPGs (SCEJ) - Some of these unannounced titles may be at risk depending on their budgets and where in the development cycle they are.

Analysis: Slighty to Moderately Unsafe (depending on game)