I'm pretty sure inFamous is mine right now.  Still haven't played Uncharted 2 or Batman yet, and I think those are the only two that have a shot of topping it.  Overall seems like a good year.  I'm amazed nobody has even put Flower on their list.

Honestly, until a month or so ago, RE5 was my front runner for GOTY overall. I played it through something like 5 times in a few weeks. Maybe it helps that I have only ever played it in co-op with a friend.

"DJ Hero.  Breath of fresh air in a stale genre. "

Forza 3 is the only other game I can see dropping off the list. It's amazing, but similar to SF4 and and music games, there's just not enough to most driving games to warrant GOTY status.
 
This coming from someone who gave the award last year to Burnout Paradise, so take that however you will.

That's actually a pretty good list and the only things I would kind of disagree with would be Forza and Red Faction. Not because they were bad games. On the contrary, they were pretty good and I can completely see why they would be on your list. They aren't on my list simply because I wasn't quite interested in them. Actually, now that I think about it, I don't even have 10 games that I would consider potential GotY. I played some great games this year, but I wouldn't consider most of them GotY "worthy", if you know what I mean. Perfect example - Dirt 2. Played and enjoyed the hell out of that game, but I don't/can't see it as a Game of the Year contender. In any case, my list would consist of -
 
Uncharted 2
Assassin's Creed 2
Modern Warfare 2 
Killzone 2
inFamous
Borderlands
Batman: Arkham Asylum
 
I could put RE5 on the list, but I only played Mercs Mode with my friends. I never even touched the single player/campaign mode, thus I didn't get to experience half the game.

Red Faction Guerilla is the most likely of those to lose it's slot and it's very probable that it will be to Dragon Age. Street Fighter 4 is fantastic but even the best fighting game ever made probably wouldn't make this list.

I would fit Killzone 2 and Dragon Age in there somewhere.

Jeez couldn't imagine Red Faction: Guerrilla even cracking the top 20, i played it and completed it but it wasn't THAT good...

Band Hero and Lego RB seem like poor purchases unless you're a big pop fan.

My very subjective top 5 list

Shadow Complex is indeed an excellent game and was the one I considered when I went to put a downloadable game on here. Flower is also absolutely stunning. Like I said, ten is a smaller number than you think.

A downloadable games not considered?  Shadow Complex (Aug '09) was better than most retail releases this year.  And Flower (Feb '09) was much more unique than even the games that often make the "best of" lists.

Killzone 2 I'm only a few levels into. I will finish it before I finalize my list but it hasn't really grabbed me yet. Again, that may change.

Killzone 2 came out this year right?

Dragon Age Origins is a little unfortunate here. It's just too long for me to even consider starting. It may very well be worthy of a spot on the list. We'll see if I have time to play it in December. Street Fighter IV is certainly a great game, I played a lot of it back when it came out. It would have made a top 15, as would DJ Hero. It was on the list until I had to narrow it down to ten. DJ Hero is exactly what it needed to be but it still doesn;t do quite enough to save the music genre for me. I played hundreds and hundreds of hours of music games in the last few years and while I love them, there's probably no way to save them anymore.
 
All three of those games were certainly considered and they are all great. If I get enough into Dragon Age then it still has a pretty good chance to make a slot.

" Dragon Age: Origins maybe? "

DJ Hero.
 
Breath of fresh air in a stale genre.

" Street Fighter IV. No question. "

Street Fighter IV. No question.

Dragon Age: Origins maybe?

I've had a quick look over everything I've played over the last year and have come up with this list of ten. In no particular order:
 
Uncharted 2
Borderlands
Infamous
Resident Evil 5
Ratchet: Crack in Time
Batman: Arkham Asylum
Assassin's Creed 2
Forza 3
Modern Warfare 2
Red Faction Guerilla
 
There are a few big name games missing, some because I didn't like them, some because I didn't get time to play them yet and some that just got unlucky because ten is a smaller number than it sounds.
 
Ratchet and AC2 are on there provisionally, I haven't beaten either yet but what I have played of both has impressed me plenty. Left 4 Dead 2 is in the mail and is a remote possibility to sneak into a slot, though this is a list of ten games that are so good I can't imagine taking any one off. 
 
No music games. That may come as a surprise to anyone who knows my taste in games, or not. The only two that are even close to making it are Guitar Hero Metallica and DJ Hero and at this point I feel that these other games just have so much more to offer. Still torn over whether or not to even buy Band Hero and Lego RB on Australian release. Probably not. They've just killed it. 15+ music games in a year is 13 too many.

Let me know if there's anything really obvious I forgot but for the record Prototype isn't on here because that game is garbage.
 
All of these games will get a thorough writeup as the year draws to a close and I'll order them 1 to 10. If you want a preview of what is almost definately taking the top slot go and read my last few reviews. The interesting part will be ordering the other 9. I'll likely do a similar feature for movies once all the good ones actually come out. Stupid end of year oscar season releases mixed with Australian 2 month+ delays on releae make it hard to know anything about the year's movies until maybe December 27th. It's entirely possible that up to 8 of my favourite 10 movies of the year aren't even out yet. Two so far are absolute locks, but those other 8 are a free-for-all.