Personally, though skeptical, I ended up loving being a Plus member. (Since PS3 reviews abound, and the Plus subscription is the selling point of this bundle, that's all I'm going to discuss.) I decided to try the 3 month plan and within a month I realized the Bargain and Upgraded to a year.
Here is the gist of it: Costs $50 yearly (Less than $5/month. Compare to Netflix or Amazon Prime..but with unique content.)
Includes services like 1 gig of cloud storage and automatic game saves/system updates. (this alone might be worth a few bucks each month.)
Then there are the games. Here are some that I downloaded since my purchase until now.(June-October 2012) Infamous 2, Little Big Planet 2, Borderlands, The first two episodes the Walking Dead game, Ratchet & Clank: All 4 One, Starhawk (solo campaign), Scott Pilgrim Vs The World: The Game Double Dragon Neon Pac-Man Championship Edition DX
That's well over $200 worth of games to play for $50. But there are a few caveats:
1. The first reviewer is correct that you can only play these games WHILE YOUR MEMBERSHIP IS ACTIVE.
2. Over time, the number of games you can keep will be limited by your hard-drive capacity.
3. You don't know what's coming out very far in advance. (I had actually purchased Scott Pilgrim the month before it became available for free. That said, when I bought it, it was only $10 for members.)
To me, it's still a bargain. If you really love a game and want to play it a lot in the future, you can still buy a physical copy to play. If you didn't have PS Plus, that's would have to do. For 5 bucks a month, it's worth it to preview some of these games. For example I might decide I liked Infamous 2 and buy the new collection on disk, but though I really enjoyed Ratchet & Clank, once I've played through it I won't want to own it. (Or vice versa.) Or another example, I was thinking I'd buy a physical copy of Borderlands with the extra Game of the Year content on it. But then Borderlands 2 came out, and I don't see myself going back just for that extra stuff.
In summary, it is WELL worth $50 to play these games and have the other features for a year. If you decide it's not, then you can go buy a physical copy of the games you wish you still had.
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