Ok so everyone knows that the new PS3 is $300 but I can tell you from personal experience that the older and bulkier PS3 performs much more reliably than the new slimline PS3. New PS3s have issues with sound plaqyback especially when HDMI cables are used while the older PS3 has never presented the same issue. BTW if you do own a new PS3 and games/movies do not playback the sound, you have to exit to the main menu and re-enter the game/video before the sound comes on, I don't know why it just works... Anyway this old PS3 was probably one of the first released and it is still in perfect condition. New PS3 will not play older PS2 and PS1 games because it is not backwards compatible but the older models are backwards compatibile at least with PS2 games. New PS3 has a very basic method of buttons i.e. u press a button for the disc to eject, but the older PS3 is all set up using touchscreen so there is no pressing of buttons and it makes for a very sleek setup. If you are considering purchasing a new PS3, I would HIGHLY recommend shopping around on Ebay for one of the old-school versions because there are many bugs in the new PS3 to be worked out.