According to new European ratings it looks like The Sly Collection is being split up as individual PlayStation 3 titles for release on the PlayStation Store.
The collection (which retails for $30 in stores) includes the original Sly Cooper, Sly 2: Band of Thieves, and Sly 3: Honor Among Thieves. All three of these titles have now been rated for release on the PlayStation 3 by the Pan European Game Information board. The board does not specify that the games will be released digitally but it’s unlikely that any single PS2 title would see its own release as a boxed product on the PS3, especially since each one is already part of an already released collection.
*Update* It has been confirmed on the PlayStation Blog that The Sly Collection will be released as individual games on the PSN on November 29th for $9.99 each. – Link