I think you should hold out for a GC. I honestly think the only games on PS2 that are worth the money are SSX, TM: Black, and/or TTT if you\'re a fan of the series. $50 is seriously a lot of money, and it isn\'t worth it if your game usually sits inside of its box instead of the PS2. Of course there\'s GT3 but it\'s not out yet...
We\'ve seen what the PS2 has to offer, I think if you had to pick now you should be one of the early adopters of Nintendo\'s new system rather than a late adopter of Sony\'s pricey one.
This is coming from a fan of both companies.