they can maybe improve the graphics what they couldn't do for X360

as mentioned above, GTA came out looong after for Xbox then it's PS2 version, didn't really blow for Sony, but developers made shit load of money.
there are lot of people i know won't even touch the xbox 360 and rather wait till the PS3 is released.
you never know.... they maybe doing the Japanese voice over too

I seriously doubt there would be any REAL improvements graphically. The ps3 is not exactly
much more powerful than the 360 is and even so, nobody bought oblivion for the graphics anyway (not saying its bad).Truth is its the same game no matter which system its on and for the same reason far cry for the 360 isnt worth spending the extra money on, will be the same reason why oblivion for the ps3 wouldnt be worth it either.