For anyone interested, I took the plunge and bought ME2 on the PSN. There are two things to download:  

1.  ME2 weighing in at 12GB 
2.  Cerberus Pack at 675MB (roughly)

I like the idea of downloading games. But when I pay for something it's nice to have a solid "thing" to own... if that makes sense.

You heard it here first gentlemen!

What is the Cerberus Pack?

" I like the idea of downloading games. But when I pay for something it's nice to have a solid "thing" to own... if that makes sense. "

I'm big on buying games on Steam and XboxLive and PSN. Especially from Steam because with my current ISP solution it goes INSANELY fast to install a full game compared to installing from discs. 
 
I'm on Eric's preference though, I like to have a solid copy on my shelf. It's also cheaper!
Funny thing. Bought Empire Total War for 30 bucks in the stores instead of 50 on Steam (or any other download provider, it's effin expensive to buy games from download services) but inputted the key into Steam and was ready to play within 20 minutes. The physical copy went up on the shelf the second I had inputted the serial key into Steam.
 
 

@Eric_Buck

EDIT: A cerberus is a 3 headed dog right? Or is it a 2 headed lion...?  Goddamn. "

omg... 5 to 6 hours.... I really would rather drive somewhere to pick up a game and have 4 hours sunk in already.  
 
My PS3 is a 40GB (which is really 37 GB) so I'd have less than 25GB left on the hard disk. And with so many games requiring installs that would be a problem :P

I like having a disc.  I doubt that games will move to downloads as fast as music since part of what helped music move to digital downloads was that for a while there, most of us and probably still do get them for free.  But when you pay 60 bucks for something, I would like for it to be something I can hold.  To have to count on the cloud to let me use it when I want to is a little bit to out there for me right now.  Too many times does an internet connection go down and then what do you do? 
Furthermore, digital downloads of games would be sweet if 1) i could preload the game before release so as soon as it hits 12am, I can play.  2) If the PSN wasn't so damn slow and who the fuck thought installs on the PS3 were a good idea, why doesn't the 360 do that?  3) If my internet connection were more reliable and a lot faster.  Fuck I hate AT&T.

In a previous thread I did mention I was contemplating getting the PSN version or just waiting to get it cheap during an Amazon Goldbox Deal. I wound up getting the PSN version partially to see how it goes and, well, as much as I didn't want to pay $60 for what is now a year old game I do want to show my support for BioWare for bring a great version of ME2 to the PS3. 
 
The game is not in the cloud, it is installed locally and played locally, just like a 360 Games on Demand game. It's not really any different than that, except the games on the PS3 can be much larger since there is no DVD size limit restriction. At least it wasn't 50GB ;) (Uncharted 2 fills a full 50GB Blu-Ray disc for example, IIRC).
 
I usually only get smaller titles via download but this was a good experiment and one that has turned out well so far, for me. Of course if you don't have a fast internet connection, downloading 12+ gigs is not an option. 

" @Bocam: It's like a sweet package that comes with a giant 3 headed dog!  EDIT: A cerberus is a 3 headed dog right? Or is it a 2 headed lion...?  Goddamn. "