Likely scenarios:
1) CoD Demo
2) Ubisoft AAA Holiday game (Watchdogs 2/Ghost Recon? Maybe both?)
3) Some type of Destiny update/news
4) Release date for the The Last Guardian (MAYBE a trailer)
5) New Horizon demo/trailer, and release date. If they only show a trailer then there'll definitely be a behind closed doors demo.
6) Square Enix catalog, but probably no new game announcements. Just new trailers/updates on already announced ones. FFXV is likely, but lower chances for FF7R/KH3. Other candidates here are Hitman, Nier, and Tomb Raider PS4 news/exclusive content. If SE does announce something new, then I don't think it'll be a AAA IP. Probably a smaller game. Also, maybe a remaster?
7) Indie Catalog. A safe bet would 4-6 games. We'll definitely get new indie game announcements, as well as updates on announced ones. I'm personally hoping to see Pyre, Matterfall, and Song of the Deep (Insomniac). It would be cool if Insomniac actually gave an on stage demo, but I'm not sure if it's the kind of game that lends itself well to that kind of presentation. Either way I want to see Insomniac get spotlight at this conference.
8) 1-2 new AAA Sony published exclusive(s) announced (not necessarily 1st party, just Sony published). I'm guessing its too early for SSM and Sucker Punch, so a solid bet would be on Sony Bend. Or, Sony Japan could be there.
9) New PSN update/features announced. They tend to do this at E3.
10) VR segment-probably not much of a focus on hardware/features, more focus on games. I dont think this'll be a super long segment. Maybe spend some time showcasing 2-3 games (new ones or already announced ones). They'll also highlight (in some capacity) social features of these games. Then a guaranteed sizzle trailer.
11) Dreams demo. Strong focus on why this is a game you actually want to PLAY.
Possible scenarios:
1) New Rockstar game announcement. Probably RDR 3, but its high time R* announced a new game. They've always seemed to like Sony, and there've been some rumors they might actually be at E3 this year.
2) NMS VR announcement. This would be an excellent way to inject some new hype into both VR and NMS. Otherwise a short, but hype trailer for NMS is a possibility.
3) Bioshock collection announced. Again, T2 likes Sony for whatever reason, and this game is all but confirmed. Also, if Ken Levine does announce his new game at E3, I bet it'll be at Sony's conference.
4) New RE shown. Not sure if it'll be RE7 or RE2 remake. Then again, it may be too early for either of these to be shown.
5) Persona 5. Not sure if it'll be problematic for Sony to show this due to their relationship with SE, but I'm sure they're very aware of the hype for this game.
6) New GT:sport trailer. Listing this as only a possibility because I'm not sure if there's anything significant to show?
7) Ni No Kuni trailer, although this could be more appropriate for PSX.
8) Detroit trailer/release date. This might be more appropriate for Gamescom.
9) Crash surprise developed by Sanzaru?
10) ME3 demo/trailer. It's slightly difficult to predict if EA will be at Sony's conference, seeing as how they seem to want to do their own thing and that they've been strong partners with MS. If they are there though, I can see Sony trying to align the ME franchise with PS4 now.
A real surprise would be Spiderman by Sucker Punch. God I want that so bad lol.
I'm going with no Neo, seems to early for a October/November release.
Let me know if you guys think I'm missing something obvious.