i got a 120 gig ps3 slim for christmas last year and am very happy with it, but you might as well get the 160 gig.  lbp is a definite must have.  i know this is cliche but metal gear solid 4 is a must have (i mean its really hard to say no to that series).  demons souls for a great dungeon crawling rpg.  i still havent played a game quite like that.  valkyria chronicles is great too for a standard rpg, it combines several different battle systems.  white knight chronicles isnt bad for an rpg i hear, i havent gotten to play that yet.  3d dot heroes and modnation racers are fun and light games to play like lbp.  so theres a few good games from the top of my head for you.  happy gaming.

God of War 3,

So they're not dropping the price of the old models? There goes my plan to get a PS3...

if you don't get demon's souls then forget about buying the console.

Some great PS3 games you should consider getting are Demon's Souls, Valkyria Chronicles, and Yakuza 3.  And did I mention Demon's Souls?

Demon's Souls is a masterpiece. It will change the way you think about games.

Uncharted 1 and 2 are outstanding games.

Heavy Rain, God of War III and Valkyria Chronicles are awesome games too.

Demons souls is a must, MGS4 if your into stealth. God of war is good if you like action games, and wipeout HD is a great game as well. Those plus what you already are getting is a great way to start. 

MGS4

God of war 3

Demons souls

Killzone2

Infamous.

gud i did th same 2 years ago. exclusves u shud get are gow3, demon soul, killzone 2, infamous, lbp

wrpg ther r no exclusve on ps3 and xbox version of multiplat wrpg are bettr.

You seriously think they are going to mark the 120 gig down to half price because of 40 gigs of HDD space? At most it will drop to $249.