Konami has release an exclusive new trailer for their Metal Gear Solid HD Collection at Gamescom that shows the first footage of MGS3.
In this trailer we see that it is running at 60 frames per second. We also see the nice new effects they put into the this new updated version.
And yes the person playing the demo says this is the Subsistence version.
The cinematics will be seen in a super widescreen format and all sound will be in 5.1 channel surround sound.
I expect we will see more footage of the Metal Gear HD Collection at TGS with the game being released this Winter.