Xbox, I think its more just a FPS and Sports system for HDTV and Better sound.. I mean PS2 is nice in itself. Use a HD in PS2 and HDLoader and games will load just as fast, hook up a optical audio cable and S-video and you will be happy.
Xbox.. sorry.. just doesnt have too much games lined up.. I mean sure secure xbox live they say is nice.. also I buy xbox games only for the Live ones, since I rather use XBL for multiplayer vs unsecure PS2.
But solo play, I buy PS2 all the way.