I ended up getting this for the 360, to play with my brother and read on the gearbox forums that there are lots of issues with the PS3 version.
If you've ever played WoW, or any recent MMO, you'll immediately feel right at home. I absolutely love the game so far, I've played probably 3 hours total and have already used 30 or more different guns. Just played my first co-op game with two others and it is an absolute blast. While there are stats to worry about on your guns and you are doing quests, it really is an FPS at heart, and it's a really fun one at that.