More ups than downs; barely
Pros:
HD, built in harddrive, networking, very powerful, upgradable blu-ray
Cons:
lack of backward compatibility, very expensive
The Bottom Line:
Yes, but keep your PS2 if you intend to keep playing those games.
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Overall Rating:
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Author's Review
While the PS3 is a great machine overall, I cannot recommend it if you plan on replacing your PS2 with it. I only had Gran Turismo 4 for PS2 games, but I planned on playing that until the release of Gran Turismo 5. Other than the lack of compatibility, its other con is the price. Being $450 for the 80GB model, I suggest buying the cheapest one you can find, save $120, then go and buy a 320GB (or more) 2.5" SATA hard drive. They all have the same features at this point to my knowledge, so just buy the bigger harddrive for the same price.
Blu-Ray capability is great and right now is the ONLY Blu-ray recommendable right now, due to BDR going through some major changes and such. PS3 is the only one upgradable right now.
Games are great, they take a while to install sometimes but their exclusive games are dead on, MGS4, Little Big Planet and Gran Turismo 5 are some must-haves depending on your likes. Unfortunately their game library is lacking big time. Compare the 360 game shelf to PS3 game shelf in any store you will find the 360 has a HUGE selection.
Reliability is good too, while there have been some issues in the early stages most of them have been worked out via bug fixes in software. Other than that, very few consoles have died, versus the 360 whose plagued by the RRoD (Red Ring of Death).
Overall, great system, they just need more games. Unfortunately Sony says Backward compatibility isn't in the works anymore, and if it is finally enabled again, it will only be with newer PS3's, not through a software update. Maybe the older 60GB models will be re-enabled as well.
