Geez guys! I don\'t mean to sound like a crab....well, maybe..
Everything in your house that has a remote (Stereo, TV, etc, ) is CONSTANTLY in standby mode. Leaving the PS2 in standby will not hurt it no more than leaving your TV or stereo\'s plugged in, they are always in standby unless you unplug them(otherwise the remotes couldn\'t power them on).
But I do agree. You do want to put in stby before switching off main power.
When in stby, basically the 120v in is going to a big transformer and outputing a teeny tiny voltage (probably 5vdc or even 3vdc) to the power button. That\'s it!
The chances of the x-former and the one or two transistors involved (in the voltage conversion) going bad are sky high. How often has your stereo or tv stopped working because of being in stby?
Just relax, and use the stby feature. It works fine.