I bought the Playstation 2 for my sons after a move across the country. (Yeah, cheap shot and it doesn't make up for it but what can I say...)
We mainly play Gran Tourismo III but also rent games almost every weekend. There is a great selection of games out there and if you are selective about what you let your kids play, there are plenty of games with acceptable ratings and content to choose from.
I also use the DVD feature of the console. While not as nice as my primary DVD, it is a nice feature for anyone who can't afford both items and can somehow convince his wife/girlfriend or whoever that it is worth the money...(Hey you get a DVD so she can watch Steel Magnolias and you get to play Metal Gear Solid??? Can't beat that!)

Only downside is when I bought the unit I got a very hard sale by the Best Buy sales associate that the DVD "chip" burns out if you use it much. I haven't had any problems so far, and most likely just your typical aftermarket warranty pitch to justify the extra dough...

Anyway, if you have to choose between the new consoles, this is the one for me. I don't care for the game cube and the X box just plain took too long to come out.

Recommended: Yes