First off, the value with this bundle is excellent, the entire god of war series + a collectible console for 299.99 is great. Console works as advertised and is not nearly as loud as some people will tell you. You can hear the disk drive working in a very quiet room but its NOWHERE as bad as the first gen Xbox 360. Now onto the bad and the reasons for the 4 star rating.
I was quite upset that the god of war games that came with the bundle came in cheap sleeves and not in actual cases. It totally throws off your game collection if displayed on a shelf or rack. Unacceptable.
The new top loading disk drive won't win any awards, it feels cheap and like it would easily break if you close it too fast or too hard. Although I'm sure it could take some punishment it just feels like a HUGE step down from the auto disk loaders of the previous models.
Overall if you're looking for a new ps3 this bundle is the way to go. The pros outweigh the cons when it comes to value.