Awesome story, awesome gameplay, awesome dialogue, awesome game. Worth your money and your time in every regard.
Besides your gender, you get to pick between three outstandingly different classes. Plus three different races (Human, elf, and dwarf), each with two or three different opening stories(i.e. City elf, Dalish elf, dwarf commoner, human noble), each is different and even changes the way people talk to you throughout the game.
The magic wielding mage, while being somewhat over-powered, is extremely fun to play.
The Warrior is hilarious to fight as (in a sick kind of way), because of all of the sync kills. You can lop off heads, impale with you sword before breaking their neck with your shield, and many other equally jubilant ways to kill.
Even the rouge, normally my least favorite class, is spiced up with duel daggers(yay more sync kills), bow and arrow, and of course lock picking, trap setting, and stealth.
The story, while basically not very inspired, is entertaining and changed just enough from KOTOR to not make it repetitive.
The role-playing aspect of this game is enormous. You make decisions that could change the story in dozens of ways, some subtle, some not so. Your companions have a bar which tells you how much they like you, and if it drops low enough, the character will either leave, tell you they'll leave (You can talk them out of it), or even try to kill you! And of course you can sleep with half of them :P safe for TV of course, but all the same...
Your companions range between witty(Alistair), hilarious(Shale), and would-rather-shoot-yourself-in-the-head-then-listen-to(curse you Wyne!!!). But even the characters you hate are realistic (You don't love everyone in real life, do you?).
So the customization is fantastic, the story is good, and the gameplay is wonderful. All in all, the best PS3 game i've ever played, will keep you coming back for play-through after play-through.