Here's a quick excerpt from the meat of it:
Shadow of the Colossus is not the only story to draw on the Promethean myth. It has been repeated many times, by many authors, its metaphor relevant to many circumstances. Among them, Albert Camus and Lewis Hyde, both of whom I'll get to later. We should take note right now, though, that the myth of Prometheus undergoes drastic revisions in Shadow of the Colossus, which only contains a few traces of its original spirit. These Promethean Colossi may be chained to their territories, but they aren't being punished for stealing fire. Here, they are protectors, guardians of some kind of dark essence, which enters Wander's body each time he slays one. They are not the enemies of order, but its enforcers, and Wander is the true transgressor, destroying the matrix of stability that keeps the Forbidden Land in check.
-- The Death of Romance in the Shadow of the Colossus, on Berfrois.com