Interesting, I'll probably hate it like every other MMORPG, but the price is certainly right, I'll check it out if my cable modem doesn't burn out from the stress.
To the folks with HDD space issues: take the plunge, this couldn't be easier. Granted, I worked in IT hardware support for 7 years, but I'm reasonably certain anyone over the age of 12 or so could easily perform the upgrade, and am entirely comfortable recommending the procedure to laymen. Remember to buy the right size HDD (2.5" SATA), and I would also suggest hanging tight at 5400rpm rather than getting anything faster, there are enough thermal issues inside the PS3 with the CPU, GPU and enclosed PSU as it is, the very negligible increase in performance @ higher rpm is really not worth the long-term risk, IMO.
You can get 500gb WD Scorpio Blues (I've had a 640gb Scorpio Blue in my original 60 for two years now with no issues whatsoever) for about $50-60 at several places, just get a OEM white box drive if you buy, there's no point in paying for a retail box, you don't need any ribbons or pretty pictures. I'm sure other manufacturers are fine as well.
Once you have the drive, if you want to save what your existing files and don't have PS+, use the backup utility on the XMB to copy the drive's contents to a USB drive (I used a 60gb iPod classic, it worked fine). Pop out the existing drive--if you have an original model PS3, be _extremely_ careful taking out the blue screw as it is made of absurdly soft metal and will strip in a heartbeat if you're not careful, this is really the one foreseeable pitfall that people might run into. The easiest thing to do is make sure you're using the proper size Phillips driver (No. 1), take it slow and steady, and silly as this may sound, you may even want to pop your console into the refrigerator for an hour before you start the operation, to let the metals contract a little and maybe give you a little leeway to work with. If you feel/see the screw head stripping, stop and go get a better driver; if it totally strips you'll have to verse yourself in the art of using a bolt extractor, and that's probably beyond most newbies. But don't worry overmuch, I only give this caveat out of an abundance of caution, most people won't have any issues.
Once you've got the outer blue screw out, you can slide out the cage, swap your drive with a few more standard screws, reinstall it, and fire the machine back up. The OS will be installed automatically, after which point you can attach your external drive to a USB port and perform the restoration of the data from your old drive.
Just my $0.02. Apart from maybe plugging in DIMMs, it's about the easiest upgrade there is in home electronics. The actual physical labor, apart from the backup and restore, probably took me less than five minutes.