I'd have to agree that it'll be a year of strong contendors. In my mind based on the meta of the previous game in the series the games most likely to be fighting for the majority of GotY awards barring unexpected dissapointment or delay would be:
LBP 2 (probably won't win because it's releasing early in the year but that didn't stop ME2 from doing well)
ME3
Uncharted 3
Zelda SS
Bioshock Infinite (if I don't count Bioshock 2 which I honestly feel is a fair thing to do)
and then the games likely to win a few but not many based again on the meta of the last game would be: GeoW3, The Last Guardian (if it even releases in 2011 in the states), Portal 2, Forza 4, Killzone 3, and I'm sure there are a number I'm missing from both this list and the former.
Overall just a ton of competition.
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