put it this way... you spend the amount for 4 or so games for a new system, is it worth it?
Yes.
Obviously, if you're on this forum, you're a DC fan. If you're a good DC fan you have a VGA box and enjoy the oh-so-sweet graphics.
If you are enjoying the sweet graphics, you probably have the ports of games for DC that were also on other systems... and notice they look much better.
the xbox versions of games look a LOT better in some instances compared to the PS2 and GC ones... PS2 has a max of 640p (right? I forget offhand i'm tired), GC is higher, but xbox blows them away. So if you have a HDTV...
Xbox also has in-game 5.1 audio for most games, so if you have a sweet reciever...
I'm gonna get an Xbox eventually... probably late summer after I get my new TV.
But all the way I will always be a PS2 fan, just because of the imports.
The best way to learn about what's REALLY available for PS2 is stay the HELL away from video game stores in the US and US magazines, they're ignorant and arrogant assholes. Subscribe to online import dealer's newsletters and go to international video game news websites. If you need reviews hit up gamefaqs.com, most fans get the game and review it within a few days of release.
And I will always be a Nintendo fan for their few exclusive 1st party games each year that are quality (i.e. Metroid). However, if you've been reading the news lately (ie the-magicbox.com), you'll see that 3rd party companies now have the rights to use Nintendo characters in the GC versions of their games.
Upcoming examples:
DDR with Mario
NBA street 3 with Mario, Luigi, Peach and a special court
Fight Night round 2 (right? i forget...)with Little Mac and Super Punch out!! as a bonus game
This is gonna get interesting...