Games that launched in North America & Japan include:
The heavily praised Resistance: Fall of Man, awarded PS3 game of the year….
1st party titles: Motorstorm off-road racing game, Heavenly Sword action adventure game, Killzone(working title) sequal to the popular PS2 FPS game, Eight Days 3rd person shooter & driving game, Lair fantasy Adventure game, taking you on the role of a dragon rider, Warhawk 3rd person flying shooter that makes extensive use of SIXAXIS controller and it’s motion-sensing feature’s capabilities, Afrika TBA.
Third party titles exclusive to PS3: Metal Gear Solid 4: Guns of the Patriots reported to be the final chapter in the tactical espionage epic, Devil May Cry 4 4th installment in the fast-paced gun-slinging/sword-fighting series, Final Fantasy XIII & Final Fantasy Vs. XIII a dual installment of the extremely popular RPG, [b]Tekken 6[/b] continuation of the popular fighting games, & Heavy Rain an adventure title.
Games currenly available-always assuming they’re in-stock-are:
Sports games: NBA Street: Homecourt, NHL 2K, Ridge Racer 7, Tiger Woods Pga Tour 07, Tony Hawk’s Project 8, Def Jam: Icon, Fight Night: Round 3, Formula 1 Championship Edition, Madden NFL 07, MLB 2K7, NBA 07, NBA 2K.
Action/Adventure/fighting games available: Blazing Angels: Squadrons of WWII, Call of Duty 3, Full Auto 2: Battlelines, Genji: Days of the Blade, Marvel: Ultimate Alliance, Mobile Suit Gundam: Crossfire, Untold Legends: Dark Kingdom & Sonic the Hedgehog.
Games coming this year(2007):
Sports: College Hoops 2K7 3-20, Virtua Tennis 3 3-21, MLB 07: The Show 4-18, All-Pro Football 2k8 6-15.
Action/adventure/fighting: 3-21 Elder Scrolls IV: Oblivion, The Godfather: The Don’s Edition, Armored Core 4./ 3-29 Tom Clancy’s Rainbow Six:Vegas / Enchanted Arms 4-4 / FEAR 4-18 / 5-2 Spiderman 3 /5-15The Darkness, Surf’s up /6-15 T.C’s Ghost Recon: Advanced Warfighter 2, Fantastic Four: Rise of the Silver Surfer /6-27 Transformers /8-15 John Woo Presents Stranglehold(also in Collector’s Edition) / 9-5 Dark Sector / 9-15 Blacksite: Area 51
European launch games will include: Splinter Cell: Double Agent, Virtua Fighter 5 & Enchanted Arms.
~Pyramid27
Source: Wikipedia

Source/info: Sony USA