the latest issue of Play magazine reveals that a Sonic Collection 2 is in the works for Nintendo's GameCube. Sonic CD and Sonic The Fighters are just two of the many games to be included in the collection. We can't confirm this, as we haven't seen the magazine.
A listing over at gamestop.com reveals that a Sonic game is in the works for Sony's PSP. The genre is listed as "Action, Adventure, Racing." It has a November release date and a $39.99 price tag. Right now, there's absolutely no information on what this is / could be, but regardless, it should make PSP-owning Sonic fans happy to hear.
I always thought there was some legal issue that kept Sonic CD from collection titles oh well Sonic Fighters!