Wait for X-Box, then buy a PS2! When X-Box and Cube are out, the PS2 price will drop.
As for the people that say, get a Dreamcast, just get the PS2. I had a Dreamcast and it was good, I was in the same frame of mind as you, that it was just as good as a PS2. Well I got a PS2 for my birthday and I can tell you the PS2 is EONS ahead of the Dreamcast.