お目にかかれて光栄です。
Wow. That's one heck of a polite sentence there.
Well, isn't "It's an honor to meet you" incredibly polite as well?
I can't really think of anything politer to say in English when meeting someone.
And it must be noted that when I looked up the above sentence, this preceded it
天皇陛下 (Your Majesty), so it's probably like Jason mentioned, even more polite in Japanese than its English counterpart.
If you are just looking for something nice to say when you meet someone, just stick to what Jason mentioned before (はじめまして;宜しくお願いします) This is what I've heard when I've met Japanese people (of course, there is the possibility they were just keeping it simple for my sake; but also look at some of the podcasts; this is what they say when they role-play introductions)
A