I've come up with a scientific solution.
You ask if the PS2 is still worth it.
First ask yourself how much time you have to play games....
Now ask yourself how much you make per hour.
If you make $10 an hour and buy a $50 game +$150 system, then you should play it for 20 hours at least to get your moneys worth.
That's just a rough idea of how to figure it out. That's how I do it.
I'm looking to get a sweet deal on an Xbox and PS2. I can't justify the expense just yet with 6 day work weeks.