What THX said is correct. The video quality of the PS2 DVD player is inferior even to much cheaper dedicated players. In addition, the audio quality is noticably inferior to other players, at least when using the stereo cables. I have not tested audio from the optical digital cable. The PS2 DVD player is obviously an interlaced player, but I take it you weren\'t planning on spending the money to buy a progressive model, so that doesn\'t make much difference. It also does not output widescreen anamorphic images with the current set of DVD drivers. Therefore you cannot use it adequately with a 16:9 display. You would have to use some sort of zoom mode on your widescreen TV, and that reveals a very noticable screening effect on large televisions. It\'s hard to explain, but suffice to say the image really deteriorates when you zoom it.
I think you should buy the $200 player, and use the PS2 just for games.