We have a PS2 also. We initially bought an X-Box but returned it when we found that age-appropriate games were less plentiful and everywhere we had looked for X-box games had an abundant selection for the PS2 in the "E" rated category.

We have enjoyed the challenge (and humility) that comes from playing the games along with the kids once in a while. They love the fact that we'll spend time doing something they're really excited about and love even more the possibility of winning against Mom & Dad. We started with Frogger and Antz games and the kids have progressed into more advanced ones (while I'm still stuck in Antz trying to get my 'grasshopper' car to race the right direction).