I would have to say Metal Gear Solid 4: Guns of the Patriots..
I just got my PS3 recently and the first time I played it I was glued to my chair for hours. Never have I liked or played a MGS game this much before. It's a lot easier to learn than the ones that preceded it, but the gameplay is top-notch. It really matched, even exceeded my expectations from it.
Not to mention the graphics. Too bad they utilized it to show Snake's old face..
The only thing that's bad about it is probably the high expectations of gamers who haven't played the series before from all the hype of it. Some would probably be disappointed thinking the gameplay would be like the usual shooter games. And of course the long cut-scenes. But if you have played the series before, those are to be expected. In my opinion, if you look at it objectively and appreciating it's long cut-scenes knowing that it has always been a part of the series, it is one of the best games of all-time.
Uncharted 2 also. Really cool game. It has the best graphics I have seen from a game. Of course I'm not sure of it having the best graphics, cause' I just recently started playing a next-gen console, but I'm quite sure it has some of the best graphics from a game. I mean, just look at it. It is one of the reasons why a person should buy a PS3.
Those are pretty much my favorite games and the best games IMHO from the small number of titles I have played.