Left4Dead would be my first choice. Kinda short, but amazing fun.
LotR: War in the North is only 3 player, but it's fun.
Dead Island is fun in coop too if you don't mind the stupid quests, bad level structure and idiotic AI.
Lots of games you can get on Steam for the PC, low end ones too. Magicka, Terraria, Bunch of Heroes (not local)
Also Heroes 3. Local play, god I spent hours playing that with friends...