Thankfully the doubters have been proven wrong, as with Mass Effect 3 Bioware has not only cleared the bar, but they raised it several notches before doing so.
The game is not without its problems. There are numerous visual glitches, importing character appearance from Mass Effect 2 saves doesn't work, one of the quest lines in the 0-day DLC crashes the game (though can be completed with a bit of well timed button mashing), and like all Bioware titles, the first hour is rough and just a little slow.
There has also been a great deal of backlash at the game's endings. Having seen all three endings myself, I don't understand this backlash, though I do know that many others feel let down. Obviously a review is not the best place to discuss the endings of a game, so I won't. All I will say is that the backlash relates only to one aspect of the endings, and overall, you won't be disappointed with their scale or impact.
While the game is still most certainly an RPG, for better or worse a lot of the 'fat' has been trimmed. Mini-games are non-existent (though there are a few minor environmental puzzles), scanning has been greatly simplified, and most side quests are acquired automatically by overhearing conversations. Much like Mass Effect 2, exploration of the Citadel (the focal point of activities) is quite limited, but a few quests allow you to step outside these restrictions and see the Citadel in amazing detail.
While the graphics could have been better, the same cannot be said about the sound track. It is hard to imagine how the audio could have been improved. The voice acting was of the highest quality, and the sound effects were atmospherically perfect. As always the musical score delivered that extra emotional kick to every scene, and this game is all about emotion.
I am not afraid to admit that there was at least one scene in Mass Effect 3 that caused me to shed a tear or two. It was one of the most emotional experiences I have had invoked by a story in any medium. Reading a book, or watching a television series, you develop an attachment to the characters. Playing Mass Effect, you develop a relationship with the characters.
While it has been claimed Mass Effect 3 has a solid 30 hours of game play in the main story, I found the true figure to be closer to 15 to 20 hours. But given the superb quality, it is still a bargain at AU$80.

If you played and enjoyed the first two instalments, you must play this latest instalment. Even if you do end up disappointed with the ending, you will not regret playing the game. If you haven't played the earlier games then you should consider doing so, but even if you don't, I think Mass Effect 3 offers enough that you can't go wrong giving it a shot.
And I still don't understand people's objections to the endings. I thought they were fantastic. But horses for courses I guess.