Well you're looking at the correct answer....
But I also like www.the-magicbox.com for Japan centric news and www.gamespot.com is acceptable....most of the time.
1up is the shit. Joystiq is pretty cool, huge Sony fanboys though. Kotaku is cool, but you also have to read news about Japanese toys and figurines. Pretty much all news ends up here, but I have to say the GAFs are primarily a flaming fanboy festival.
GameTab is the best for news since it aggregates from all the most popular sources which you choose and lays it all out on a singular webpage. It's not really a news site however, more like a glorified RSS feed with a fantastic layout and a forum.
GAF + GameTab and you don't need to go anywhere else unless you're looking for niche news topics.
I second the-magicbox.com (their forum, though, is sleep-inducing at times), and you should also consider next-gen.biz for business-oriented news on the industry.
DISCLAIMER: I'm the site's admin. I don't produce much content, I just make sure it keeps surfing teh internets. Still, I think I can say without bias that Got Next is one of the best gaming content sites on the net.