Game Of The Year, Lame Of The Year.
My Game Of The Year is...well, I actually can't say yet.
Gears of War was very impressive, but I cannot yet rule out Zelda-TP or even Castlevania: Portrait of Ruin. Zelda I really can't comment on yet since I haven't put in enough time. Castlevania was easily the best handheld CV thus far, with some awesome new gameplay wrinkles and a gameplay structure that actually rides the line between the newer Metroid-style games and the old stage-based games very well.
My personal Lame Of The Year has to go to Phantasy Star Universe. I loved PSO but I just didn't feel it at all with PSU. Even everybody I know got the hell out and quit playing it. Waiting five years for a very tepid sequel that is an underwhelming experience visually and takes a lot of the worst aspects of other MMOs is not the way to go. PSO was so damn groundbreaking at the time (for consoles) and to not see it fully take advantage of next-gen hardware is just really sad.
Let the insights and flames begin.