I can't recommend this enough. You NEED to play this trilogy. It is probably one of the best gaming experiences I have ever had and this series has easily become one of my favourites.
Sure, the ending of the third game could be better, but it's about the journey, not the destination. Be sure to download the extended cut ending off of PSN (it's free as of right now). You're cheating yourself if you haven't played these games.
This trilogy pack is the only way to get a psychical copy of the first game on PS3 (you can now get a download of it on PSN) since the series was 360/PC exclusive for such a long time. You can get the second and third game on their own on PS3, and for a long time I didn't want to play the games unless I could play the first one.... so they finally put this out!
Packaging is decent. The games are in a folding cardboard and plastic case. It has a cardboard slip cover that tends to get damaged on the edges after sliding the games in and out over time, which is probably my biggest gripe with it since I like to keep my stuff looking nice.
Mass Effect 1 does feel a bit dated, but it has a fantastic story. Mass Effect 2 fixes all of the problems in Mass Effect 1 and it has some of the best characters and character development I've ever seen in a game. Mass Effect 3 has the best gameplay overall and it has some of the most emotional scenes and it does a fantastic job of giving you a sense of impending doom. Out of the three games, Mass Effect 2 is my favourite.
Overall, check this trilogy out. It's worth every penny. These are some of the best games released in the last fifteen years, right here. Be sure to check out the DLC as well, as it's also quite good.