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Just out of curiosity, Nate, what made you decide on a PS3 vs. the 360?
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360 didn't have anything I wanted. PS3 had LBP, The Last Guardian (eventually), Katamari and several PSN games I wanted.
As for prices, they're remarkably overpriced here too. They like nice round numbers, so standard games are $100 with highly sought after ones being $110, which is roughly 90-100USD. The Australian dollar has gone up quite a lot in the last few months but games have refused to change prices with the trend.
It's just a shame that they no longer have PS2 compatibility; I would have loved to have played Ico and Shadow of the Colossus.