While my true support still remains with Nintendo I thought it was finally time to purchase a console that was not made my Nintendo 
It was either this or the Xbox, but the PS2 has a lot of the franchises I'm interested in that I previously didn't have access to through Nintendo. And I needed something other than my dated PC to play some games until the Wii comes out, so I turned to Sony.
PS2 Franchises I enjoy:
Final Fantasy - Square Enix
Dragon Warrior - Square Enix (though I think this one is starting to shift towards Ninty's direction)
Tales of - Namco
Gran Turismo - Sony
Soul Calibur - Namco
Devil May Cry - Capcom
Dragon Ball Z: Budokai - Atari
Grand Theft Auto - Rockstar
Xbox Franchises I enjoy:
Halo - Microsoft (also on PC)
Grand Theft Auto - Rockstar (also on PS2)
The Elder Scrolls - Bethesda (also on PC)
Tommorow I'm looking forward to picking up one or two games, still haven't completely made up my mind but I'll see when I get there.
As far as next gen goes though I think I'm going to invest in an Xbox 360 as my second console, their library is starting to show some variety. Maybe even a PS3 as a third (after about a decade of price-drops).
Just kidding! You can stay! 
But seriously...Get one... 
If I get paid enough next week I'm looking to "Ressurrect my N64" by catching up on some of the games I missed out on. Here they are:
Lylat Wars (aka Star Fox 64) excellent game, can't believe I didn't buy it back in the day. But I'll make sure I eventually correct that mistake!
Diddy Kong Racing: call it kiddy if you want but this game was as hard as hell! I still haven't finished it (despite renting it several times) but when I'm looking for a challenge I'll know where to turn to.
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Yodax007