For single player:

For multiplayer:

Gears of War 2. It had the gameplay and the story to back it up.

I don't really consider Uncharted 2 a TPS but more of an action adventure, but if you asking which one I like better, then U2.

What about Uncharted 4? It will surely be better than U3.

Isn't confirmed for this gen. 

True

Uncharted Favorite TPS of all time! Heck best tps of all time! I love the single player and multiplayer. I hope they add split screen co-op in the next one rather than just online co-op on that was on the 2nd one. Online co-op was fun but they couldve added more maps and levels. Besides that Uncharted 3 For Goty this year!

It's a toss up between the masterfully crafted and perfectly polished yet totally balls out Vanquish and the cheesy as fuck, frame-rate-dying-all-over-the-place, made on a shoestring budget yet totally balls out Earth Defense Force 2017.

Personally, I think the combat in Gears of War series can't be beaten, especially with a friend.  The feeling of being part of a team (with Baird, Cole, and Dom) and kicking ass with the crazy weapons while facing some insane and imposing enemies.  I can't think of another game that does it better.

Honorable mentions to:

• Uncharted: All around awesome but it seems like gunplay isn't what the game is about.  It's more about presentation, plot twists, and platforming with gunplay added to the mix.  I'd consider it an adventure game before I consider it a TPS.
• Resident Evil 5:  Really fun with two players but the controls just arent up to snuff.  
• Heavy Rain: Good story and graphics but it just doesn't have what I'm looking for in a TPS--Third person shooting.
• Bionic Commando: Not enough enemy types.  This game was crazy fun, though!

Dead Space 2.

I don't see why this wouldn't count. Also My favorite Game this gen.

The pacing was great. Atmosphere is fantastic. The Violence is awesome. It had some nice scary moments. The flying/fighting in Zero G was awesome awesome addition. It also had light RPG mechanics (weapon upgrades) and different suits. It didn't have as many bossfights as the first one which is probably the biggest negative for me.

My number 2 is Mass Effect 2 but that's irrelavent.

Uncharted 2, because it is smooth as milk. Gears is close but that mostly for the multi, im talking co-op campaign