There is no intelligent reason for Zipper to stop making the series. It has to be one of the best games, if not the best game that I have ever played. Stopping the series would be the biggest mistake in their careers. I too, will not believe it until I see a source stating they wont.
I think SOCOM for the PS3 will be one of the biggest games in early line up of the console.
I'm thinking lines of people to get the game when it hits the shelves.
If there is a socom for ps3, I dont think it will be an early line up for the ps3. Socom 3 just came out, it takes longer than a year to make a game you know