Uncharted developer Naughty Dog has confirmed both Elena and Chloe would be returning to Uncharted 3. Before you let your excitement get the best of you, Naughty Dog co-president, Evan Wells, then confirmed that no character is safe from being killed off, "if the storyline called for it." This isn't cause for immediate alarm; main characters won't be killed off for shock value. If a major character dies, it would have to be to "expose an aspect of Drake's character" and progress the narrative.
Wells didn't comment on whether or not Elena and Chloe will survive Uncharted 3: Drake's Deception but he did confirm they won't be as pivotal to the story as they were in Uncharted 2: Among Thieves. "Chloe and Elena are back but they aren't the emphasis of the story the way they were in Uncharted 2. This time round the emphasis is on Victor Sullivan and his mentor/protégé relationship with Drake."
I have a personal appreciation for Chloe, and anything Claudia Black for that matter, so I'm glad she's returning. Story progression or not, if anyone gets the boot I'd rather it be Elena. Is that mean?
We'll find out for sure on November 1 when Uncharted 3 is released exclusively for the PS3.