Patapon- If you want to save time and money, just get #2. It's just a more refined Patapon 1.
Crimson Gem Saga- Can't say enough about this game considering how under the radar it's been. If you can find it, get it. It's a fantastic old school RPG with new school presentation. There's nothing particularly amazing or groundbreaking about it, but it just executes on all the basics in a way that most RPGs fail at.
Wipeout: Pulse- Really addictive arcade racer
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
