To the OP:
Like you, I made use of the price drop and bought a PS3 from Circuit City with the free second controller. I bought it because I wanted a version with the PS2 chip before the 60GB version gets discontinued.
You're right when it comes to the so far weak game library. Looking at the games I could have waited another year to buy this system walking out of the store with a $600 receipt; when I handed over my credit card I remembered that I bought in 1991 the SNES, a cutting edge machine, for $180; now I have to pay a lot of money for a multi-media machine with lots of schnicknack that makes it very expensive and less reliable.
My suggestions: Motorstorm, the best PS3 exclusive by far, and certainly a blast if you like racing games; (another possibility is Formula One Championship Edition, much more like your common first generation console racer; or Ridge Racer 7 if you haven't played RR 6 on the 360 yet; great racer as well).
If you're into RPGs buy the solid multiplatform Enchanted Arms which dropped to $20 (at CC, I think it is a universal price drop).
If you haven't played it on the Xbox yet, Ninja gaiden Sigma.
If you like Tennis games, go for the multiplatform Virtua Tennis 3.
Motorstorm, I think, is by far the best recommendation as a PS3 exclusive in an otherwise mediocre game library. Great gameplay, great fun, and it shows the graphical capabilities of the machine.