Yeah I've got a chipped Xbox with a 120GB drive in it. Both the PS2 and XBox have their pros and cons. My friends all have PS2s which I borrow regularly so it only made sense to get an Xbox so we could get the best of both worlds.
However the Xbox pulls ahead once you chip it - basically turns it into a mini PC. You can plug it into your home network (with its builtin network card) and FTP over all your fav divx/mpgs/mp3 etc from off your PC to enjoy from the comfort of your couch. Also all the clever hackers out there have ported all sorts of programs for the xbox (Mame32, Media Player, Linux etc) just to spite Bill Gates
You can even rip games and DVDs straight to the Xboxs harddrive so you can play them without needing the CDs anymore (*cough* video store goodness *cough*).
Currently on my Xboxs drive I have:
50 ripped DVDs
1000's of mp3s
600 music videos
11 "backed up" xbox games (good on ya Video Ezy!!)
Mame (with 1600 roms), Gameboy, Sega and Nintendo emulators.
Playing Gauntlet, Defender, Mr Do and all those other old school arcade games are heaps more fun on a console too and a lot more convenient as you can flick over to it during the ad breaks.
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