For retail disk games my PS3 collection is pretty small.
I have;
- Resistance (recommend)
- SONIC The Hedgehog (cant recommend)
- Virtua Fighter 5 (recommend)
- Ninja Gaiden SIGMA (recommend)
- Gundam CROSSFIRE (I personally like this - but dont recommend)
- Full Auto 2 BATTLELINES (recommend - and I have the 360 game and can recommend both)
- F1 Championship Edition (recommend)
- Ridge Racer 7 (recommend - even if you have RR6 for X360)
- Dark Kingdom (decent dungeon crawler/slasher)
- Marvel ULTIMATE alliance (looks better than X360 edition - otherwise its the same game)
- Genji Days of the Blade (I like this but dont feel comfortable recommending as it isnt for everyone)
Next in the pile for me looks to be Warhawk and Lair.
That's a pretty big collection, considering the system is not even a year old.
My Recommendations
Retail Games
Ninja Gaiden Sigma-Especially if you are fond of action games and haven't played the X-box iterations to death.
RR7-If you have not played RR6
Mingol 5-or you can wait for the US version
Resistance-I don't own it, but plan to soon. Really slow starting but fun towards the end.
Don't buy
VF5. Get 360 version if you own a 360. Version C, better AI, online play.
Motorstorm. Overpriced. Maybe rental or second hand buy.
Sonic. Everything that has been said already will suffice.
Oblivion. Wait until the Game of the Year version is released. It will have the Shivering Isles content.
Essential Downloads
Stardust HD--Best value on the PS3.
Calling all Car--Online is as a waste land. But local games are really fun.
GTHD--is it still free? If it is download it.
Tekken 5: Dark Resurrection. Wait until the online enabled version comes out though. You will save some money.
Blu-Ray
Planet Earth. This is the only must buy Blu-Ray right now. I honestly don't care about movie releases right now since I rent anyway and PS3 upscaling is fine for me.