From Joystick
http://www.joystiq.com/2007/10/31/metal-gear-solid-4-delayed-until-q2-2008/October 31, 2007
KONAMI announced today that "METAL GEAR SOLID 4 GUNS OF THE PATRIOTS", the latest in the METAL GEAR series, is scheduled to be released in the second quarter of 2008.
KONAMI had initially intended to release "METAL GEAR SOLID 4 GUNS OF THE PATRIOTS" this winter and has been working on the production of the title. KONAMI has decided to delay the title's release in order to make further improvements to the quality of the game and provide even greater enjoyment for more customers worldwide.
KONAMI will continue its efforts to make "METAL GEAR SOLID 4 GUNS OF THE PATRIOTS" meet everyone's expectations.
Further information regarding the release date will be announced as soon as possible.
Title: "METAL GEAR SOLID 4 GUNS OF THE PATRIOTS"
Expected Release Date: the second quarter of 2008
Genre: Action
Platform: "PLAYSTATION 3"
"PLAYSTATION" is a registered trademark of Sony Computer Entertainment Inc.
That's wack. The PS3 really needs this game boost hardware sales.
Maybe they need the time work on the 360 port.

Kidding aside, I cannot believe that Konami will not port this the 360. Recent sales data has confirmed that the 360 tie ratios have been off the charts, beating both Wii and PS3 handily in that measure, any 3rd publisher that ignores that install base is either distinguished mentally-challenged in the realms of business and commerce or paid off by Sony.