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From GameSpot:

An intended February 2009 ship date in Europe was confirmed during the Sony keynote address. SCEE representatives at the game's booth were quick to point out that they could have had the game on shelves this year but chose not to in the face of stiff competition from other AAA titles, including Gears of War 2.

Gears 2, Resistance 2, and Socom: Confrontation certainly provide for an action packed fourth quarter as it is, so this makes sense.  I know many here were wondering where'd they'd fit Killzone 2 in with Socom hitting in September and Resistance hitting in November. 

Plus, now they have an extra few months to polish the game. :)