So a bunch of ads have popped up on the streets about a Best Buy branch opening in the area.
To all you Americans: Should I be excited about this?

Not familiar with the competition in the UK, but Best Buy is an okay store (great if you like consoles).
Like any retail store, you have the advantage of being able to easily browse (I always found that staring at boxes and cameras is more fun than staring at images) and pick things up immediately. Like any retail store, you also tend to pay more than if you buy online.
That being said, Best Buy is pretty much the best electronics-oriented retail store in the country. Not saying much, but whatever.
So to actually answer the question: Probably not. But I would suggest stopping by every so often.

No reason to get excited, unless you like paying MSRP or higher on everything.
They dont carry a lot of PC gear anymore.
They are ok for movies if they have come out in the last year.
Now, if you were getting a Fry's, THAT would be something to get excited about.
:P

That really depends on what you've already got. They're not some sort of electronics megastore, but they're a solid general retailer of electronics and geek stuff; there isn't one better where I live, at least. If nothing else, they at least have a better selection of PC games than the utterly worthless EB Games and Gamestop.

They rarely keep anything around long enough for it to be on sale at a fair price. Blu Ray, DVD's and Music can all be purchased cheaper some where else. If you need a console system or handheld maybe when they have a sale. I shredded my Best Buy card over a year ago and don't miss the place at all.

They truly are worthless, aren't they? Game, too. In fact, any dedicated game store I've ever been into has left me with the same impression. Their selection is poor (the selection in my local supermarket is almost as good, albeit less well arranged), their prices are usually 20% above all other places that sell games and their employees tend to be arrogant as well as clueless.

I much prefer Future Shop.

It's kind of hard to not be the best when there are no other nation-wide competitors left, now that Circuit City has gone out of business. They are the best in a field of one, which means they are also the worst.
To the OP:
Should you be excited? That depends, are you excited when a new Wal*Mart opens in your area? If so, then yes, since Best Buy is basically the Wal*Mart of electronics retailers, only without the ridiculously low prices on sweatshop manufactured products.

Only reason Best Buy is around is because people who suck with computers need Geek Squad.

The irony of this statement is that Geek Squad is mostly staffed by people who suck with computers. They actually deal less with computers these days than they do with home theater/HDTV installations and support.

The irony of this statement is that Geek Squad don't actually anything at all these days, instead opting to charge people $130 to "install" a PS3. And steal your porn.

You accidentally the verb "do" there?

If you don't have one . . . it will be nice to have a Best Buy open on a corner near you . . . can't have too many options . . excited? . . . Nah.
In my area, they are well stocked and have been a local "source" for me since the CompUSA store and Circuit City closed. You can usually get better prices online . . . although shipping cost can make a Best Buy price competitive. Convenience is their strong point rather than price since they tend to have the largest inventory to chose from. Brace yourself for the extended warranty sales pitch.

EB Games also has the distinction of being a really uncomfortable place to shop. I don't know what it is about that place, but it just sets me on edge any time I'm in there, and it makes me eager to leave. Maybe it's the color scheme or the way the place is laid out, but it's just weirdly unpleasant. Maybe it's just because I was a big customer of theirs, until they threw out all their used PC games and downsized the new PC section.
Back in the day, there was a shop at the mall where I used to live, Software Etc. I think, that was pretty awesome. It was nothing but wall-to-wall computer software, arranged into aisles for maximum stocking potential, with most of it devoted to games. I used to love browsing there.