As far as fighting games go, Tekken Tag 2 should be released soon. There is also Virtua Fighter 5: Final Showdown through PSN. UMvC and SSFIV Arcade are also good. You may consider Soul Calibur V as well, though it is not played much competitively. The sequel to NS Generations has already been announced, I don't know its release date or anything else about it.
I think Uncharted 3 has some local co-op missions but they are not the bulk of the game. Resident Evil 5 Gold has some extra content over the PC version but is obviously worse in terms of graphics. Little Big Planet (2) supports up to 4 players, I think, but it may not be your kind of game. There is also a Ratchet game that has 4 player (local?) co-op.
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Mortal Kombat (2011) and Tekken 6 are always great to play with friends :) The games are not complicated to learn and are spectacular to watch so people gladly play them. Naruto games are also pretty crazy but I haven't played a lot of them.
Other than those two consider these: Motorstorm Pacific Rift, Blur, Modnation Racers, Rayman Origins. So yeah, pretty much racing or fighting games. If your PS3 is connected to the Internet check out games you can download through PSN because most of them have some sort of local multiplayer and are usually a lot cheaper than retail games.
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Local multiplayer? Wait for the PlayStation All-Stars Battle Royale, AKA, Smash Bros' Copy
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If you want a fighter Persona 4 Arena is being release in like a week in the US and it looks really good.
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Kung-Fu Live, one player is put into the game via PS eye, and another player can control on-screen characters. Killzone 3
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getting some money soon for birthday tomarrow (hopefully), and i want to know what you guys have liked. a requirement is that the game must have local multiplayer. other than that its open, i do like fighters and was thinking of getting Naruto UNSG.
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