I have owned a Playstation and it far surpasses my expectations. I also own an xbox and between the two, I have had way less issues with the Playstation. I have played on this system as a kid. I own both one and two Playstations. The quality of the graphics(if paired with a high quality picture tv) is incredible, the games are better, ten times faster than xbox and you can use it for just about anything. Put pictures, music, videos, movies and games on this. You can even surf the web. All around a great system to play and I personally believe between the second and third Playstation, they have certainly came along way and I couldn't be any happier owning this. I recommend this to anyone.
On the flipside it can be very pricey, however for all the features included that most systems don't have, it's like owning a camera, computer, game system and dvd player with a higher quality player and better movie watching experience.