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darthdevidem01 said:
If people got a 40GB and brought these games it would cost them around £45 in total I think....

so people are saving £5 + getting 120GB extra space too

There currently is a 80GB version available so it is only 80 GB extra. The biggest "problem" with the bundle in my opinion is the £40 increase in price, I'm not sure if that will really help sales. Of course they also added some titles, but all of those are pretty cheap to get on their own. Because of that the added value of the software might be pretty limited, at least to an informed customer.