One of my absolute favorite games of PS2 era are coming out in september in HD-ified form to PS3. 
Framerate in SotC was pretty terrible, that would be probably biggest improvement over original (16:9 won't hurt either in this day and age).
If you've played them both which one you're most excited for?
For me it's definitely Shadow of the Colossus but Ico is a close second.
If you haven't played either title, it's an epic series worth experiencing.

There's a crazy amount of HD collections coming out in September, but this is one of the most anticipated, definitely.

I'll probably pick up the Japanese LE on day one, even if I'm not sure whether I'll have the time to play it. I've played SotC SO many times already that I'm probably looking a bit more forward to ICO, which I've only played once.

I loved the game, really loved it (although the soundtrack was above an average for me). Even enjoyed killing the normal black lizards one after another. but I think I was burned out after finishing the time trials in both modes and visited the secret place. I think I still could beat every colossus without much problem....

I'd appreciate that if there are added more to eat, and more meaningful places to visit. The world was masterfully crafted and I was never bored by visiting the landscape and atmosphere (this is from the guy who quit Oblivion for 10 hours or so), but after all, there were only lizards.

I only played Ico once well before its release, so I don't remember it very well, but I have repeatedly tried to get into SotC and the controls always turn me off.  That said, I want to give these games another shot, so I am planning to pick up the collection.

only played ICO so far, so i'll go in fresh for colossus. good enough for me to buy the collection!

Love both games and can't wait to have them in in HD (and 16:9, though SotC already supported that).  Ico in particular looks TERRIBLE on my HDTV, even upscaled through the PS3.

I missed out on the PS2 generation and my PS3 is a slimline (no PS2 compatibility), so I'm really looking forward to playing Shadow of the Colossus for the first time.

I missed out on the PS2 and am looking forward to the collection as well.  Already being familiar with both soundtracks it'll be interesting to hear how they fit in-game.

Picked this up today and put about three hours into Ico.  Love the game design, but HATE, HATE, HATE the camera.  It's just atrocious in both its standard mode and the incredibly sloppy, screen-blurring look around mode.  They should have fixed the latter for the for the rerelease.  Anyway, at least the controls are a lot easier to get into than Shadow's more sluggish controls.

Also, does anyone have any idea what the "full pixel mode" does?  The manual says it's supposed to be optimized for HDTVs, but I didn't notice any real difference with it on or off while playing Ico other than that the game seemed to run slightly better with it off.

Finished Ico over the weekend.  Outside of the complaints I already mentioned, I thought it was a pretty good game, but not being able to save for the last two hours really sucked.

Started Shadow of the Colossus tonight (three down so far), and it's ok.  Wander controls better than I remembered from the PS2 version, but controlling Agro is a pain.  I'm also not very fond of the grip meter and the repetition caused by falling off a colossus and having to climb back up.  At least the camera is much better than Ico's.

Finished Shadow of the Colossus a few days ago.  I have mixed feelings about this one.  The core gameplay is solid enough, but the game's utter lack of back story didn't give me much motivation to press onward and it'd be nice if there was some indication in the game itself that eating fruit and killing white-tailed lizards is a smart thing to do.  If the manual hadn't advised me to do this, I probably would have had a much harder time with it than I did.  I'm also torn about the size and freedom offered in the world.  On the one hand, I think it's great that you have the freedom to go anywhere right from the start, but on the other hand, I found myself wasting enormous amounts of time just riding around the map looking for lizards and fruit.  By the end of it, I was pretty damn sick of riding the poorly controlling horse around, and I just wanted to kill some giant monsters and be done with it.

On the whole, I think Ico is probably the better of the two, but they're both worth experiencing, and I'm glad I finally got to play through them.  Here's hoping The Last Guardian fixes all the issues I had with these and makes me want to crown it as my GOTY for 2012.