in terms of exclusives-
Heavenly Sword is fantastic, certainly worth playing, but not worth owning. You can beat it in 4 hours, I'd rent it unless you can find it somewhere for around 20 bucks. People have called it "goddess of war" and that's pretty far off, visually they may look similar but HS is all about tactics and strategy- don't expect to win many battles just mashing buttons. The story is great as well, I just wish there had been more of it.
Ratchet & Clank is incredible, almost every single entry in that series has consistently scored 9.0 or higher in most gaming media. They don't really change much in each iteration of the series, because it certainly ain't broke and doesn't need fixing. The PS3 version is lengthy, loads of fun, and will almost certainly have a sequel sooner or later. If you like the game it's probably worth going back and playing R&C, R&C: Up Your Arsenal, and R&C Going Commando for ps2 as well.
Folklore is good, but not the greatest RPG in the world. It's certainly got an innovative battle system and some gorgeous sound/level design, but after a while it gets pretty boring. Having to play through with 2 characters compounds said boredom, but you can tackle it in any order and the game is relatively deep with tons of monsters ("folks") to collect and level up.
From what I've heard Uncharted is very good as well, but you'll have to get info from others on that.
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