Since i only have bought games for ps2 (but soon my precious ps3 will come) in 2007. I'm gonna go with

GOD OF WAR 2

Assassin's the view over Jerusalem alone is worth a GOTY.

NiGHTS is my Game of the Year.

Runners up:
Super Mario Galaxy
Rune Factory

sUpeR MaRio GalAxY

Mass Effect for me, Bioshock (on the PC) in second place.

in no particular order:

Assassins' Creed (PS3): Fantastic game, I loved the story and the free running, giving fantastic views over ther whole city, it made me think in a different way about a whole city in which you can do what you want. Only let downs in it were a slightly dull combat system (by the end), annoying women, repetitivity, although I got over this by doing as little of the investigative missions as possible

Uncharted: Drake's Fortune (PS3): Fantastic game, incredible graphics, great production, great story everything was brilliant, except I would prefer less dark levels towards the end and more platforming. I have no complaints against the length

Call of Duty 4: Modern Warfare (PS3): Short but extremely intense single player, with a good storyline. Multiplayer is very addictive, high paced and really fun, although there are some lag problems

Warhawk (PS3): Excellent online, fun to play, and there are many different game types put in. The online systems (lobbies etc.) are exceptional and no lag whatsoever

my PSP game of the year:

Pursuit Force: Extreme Justice: Silly game, but really fun and addictive, it throws together tons of different game types, and all but the on foot missions are great.

Ratchet and Clank Future: Tools of Destruction

Mass Effect, with COD4 at honorable mention.

Galaxy followed by Bioshock

CoD4 on the pc for me. Such a cool game...