I have never played ico but when i played it, it was good and fun.
i have played shadow of the colossus for the ps2 and i thought it was top notch for a ps2 game and it was even better on the ps3 or at least i think so.
personally these two titles will always be my favs. this is more of a buy as opposed to a rent. assuming you loved the ps2 versions and wanted to rehash some old memories without the ps2 graphics. they did an alright job at improving the graphics on both, but i would have paid a little more to have both titles completely remade for the ps3 engine with a little extra bonus level or something.