Cool deal. What games you looking to get? I really advice saving an extra $50 on PSN games. In fact, here is a list of must haves off PSN:
1. Loco Roco Cocchirorochi (or whatever it is) - Great fun game. Beautifully animated and very innovative with the SixAxis. Take your time through it and you might be on the top of the rankings (I was actually in line to be in the top 10, then I lost
so it didn't save)
2. Calling All Cars - AMAZING game that is a blast if you have some friends to play or if you play online. It's really tapered after the initial amazing factor wore off, but it's still good fun.
3. Mortal Kombat 2 - I LOVED MK2. Online, it's a blast.
4. fl0w - This game looks AMAZING in HD. It's a 3D snake basically.
5. Twisted Metal 2 - Awesome game; exactly like the PS1 version.
6. Castlevania: SotN - Obvious; didn't get it because I want to get Dracula X, but $10 well spent, regardless.
These are just the titles I enjoyed too. Super Rub-A-Dub is pretty fun, as is Blast Factor. If you save 50-60 bucks, you are good to go with games for a while.
As for bought titles? Get Warhawk, Rachet and Clank I hear is amazing, and rent Lair. Lair is a blast to play that got bad rep from reviewers who can't play games. It's fun and well worth it. You are buying the PS3 at one of it's best times with Assassin's Creed coming out soon (though you have a 360), Unchartered, more upgrades for Warhawk, Pain, and demos soon for MGS4.