When asked, "What is the best game console out on the market?" I only have one response.
The Playstation 2.
Looking at this seven year old console in 2008, the console has lots more to offer than it did at its launch. The game library is absolutely huge, mainly because it can play most PS1 games, along with a very large PS2 library. The graphics, while sub-par compared to the next-generation consoles, are very pleasing to look at, but that all depends on when the game was made and who made it. The sound of the system is very high quality. The true gems on this system include Final Fantasy XII, Metal Gear Solid 3, and titles such as Xenosaga.
The newest model of the PS2, the slim, is highly recommended because it eliminates the horrid Disc Read Errors that plagued the earlier model PS2s. In addition, the console comes with a built in broadband adaptor, which allows for VERY simple online gaming.
Overall, the PS2 slim is a very worthwhile system. Even though it may be seven years old, it is TRULY worth the $129 (possibly $99) price tag. Highly recommended.