Based of the PS3 launch of the feature, it will most likely be a modest selection of titles (likely those already available on PS3 as it). Most of times, publishers (or SCE) have to re-register the trademarks or renew the rating for these games, in certain cases due to copyrights on musics, voices or just because of the evolutive nature of the Rating Board (new factors, new conditions, etc).
That's true. I'm hoping that since the rumor was quite a while back, that this has been in development for a while and we get a pretty good launch line-up of fifteen or so games to start with, and then maybe a couple a week from then onward. I'm likely hoping for too much, though.