Yup. GTA4 is the same three prior games with better graphics and equally crappy control. I would only suggest it for those who hadn't played the prior versions.
My friends like Fable II so far, but it's not a game I'll pick up. After Gears, I'll probably grab Left 4 Dead, since that game brings back true 4 player co-op.
I really liked GTA4, but you should pick-up Saint's Row 2. The graphics aren't as good, and not as realistic as GTA4, but the game is a lot of fun. I got it on the PS3, but I also have a 360. Bully is a really fun game on that system. It's even worh playing the ps2 version, if you only have a PS3. But the 360 Scholorship edition has hi-def graphics and added missions.
For 2006 and 2007, almost all the sport games ran much smoother on the 360. But now they are identical, and since I like the controller better, I buy almost everything on the PS3. The dual-shock3 controller is much better than the 6-axis one with the launch PS3's.
You made the right choice Wiggs. If you have a 1080p tv, blue-ray is incredible. I am not into 1st person shooters either. You might want to check out Uncharted and Ratchet & Clank, both great games. And also Heavenly Sword, very short, but a lot of fun. More of a rental, but you could find all of these games used for cheap by now.
But get Saint's Row 2, it's a blast !