While dedicated servers do offer more stability than a P2P connection, there are some drawbacks to using them, such as the chance that they may be taken offline prematurely, a point Naughty Dog made sure to reiterate in discussion Uncharted 3:

Though dedicated servers are an ideal solution for latency in online games, they can cost a small fortune to keep running, and after the player base begins to drop some games may see a closure of their online services. This is not limited to Naughty Dog and Sony however; recently EA has begun shutting down online services for their older titles. A more recent example is the shut down of Grid’s PC and PS3 servers. By using a P2P structure (found in many other titles such as the console of versions of Call of Duty) Naughty Dog will be able to support and keep the game running for a long time and players will be able to enjoy the game without fear that the servers could be shut off at any time.

Uncharted 2 ran fine for many people, and there were few complaints of latency. While dedicated servers could give a better connection to all, it may seem a bit superfluous in a game with a smaller player count (as opposed to a game like MAG which requires a solid connection for all 256 players).  Do you prefer dedicated servers over P2P, and will this decision effect how much time you spend in Uncharted 3’s multiplayer mode?

Uncharted 3 releases November 1st, 2011 for the PS3.

-

Source: Naughty Dog