Favorite Games: See Phat PS3 post.
The most reliable one. That's what this model is, yet I find the design quite ugly compared to the first one. The original looks like some kind of barbecue and this one really nailed it with the corrugated center. The matte from the Slim model is not used and the edges are glossy, it stays with the dual USB ports all models after 2007 came with. The biggest disappointment is the top load mechanism. The device no longer uses the automatic disc 'eating' drive, which is actually very good because if a disc get stuck in a device using the disc eating mechanic, it would require the device to be opened to retrieve the disc. This has some negative UX impact because it's more easier to insert a disc without the extra steps for opening the tray. Turning the device on remains the same through controllers, but it uses a physical button press instead of touch if you are not using the controllers.
This device is much more reliable (haven't heard about one bricking with normal use) and very quiet. The only noise I could hear with normal use was the Blu Ray disc drive. It can get quite warm, but does not overheat like the Phat PS3. It cannot play PS2 games, and the memory card readers are not there, identical to all models produced after 2007. It runs PS3 games faster than my Phat model in some situations.
Should you get this device?
If you are looking for the most reliable PS3, yes.
If you already own a Slim or Phat model with smaller nm chip? No, they seem to be reliable enough.
Are you looking for a cheap blu ray player that also plays games? Yes.