It plays ps1 games and not ps2. The best games are definatley warhawk, metal gear solid, resitance fall of man and uncharted is looks amazing. You might want to try rachet and clank. If your interested in graphics get gran turismo 5 prolouge for only £17.50, looks like a photo! But i highly reccomend waarhawk, you can get it from store for only £20 and there are currently 2 expansion which are awesome!
Predictions for end of 2008
PS3 - 18 million
360 - 22million
Wii - 30 million