With the new developement tools going out to the PS2 developers, the PS2 will be a lot easier to program for. For example, Vector C is a new tool for programmers to use to be able to use a lot more of what the PS2 has to offer a lot easier. Here is the
Press Release and
More Info about Vector C. (thank you Fastson for bringing this info to these forums) In two years from now, the Xbox, NGC, and PS2 will probably be on equal grounds in terms of programming simplicity. The programming difficulty won\'t be a factor then.
Do not underestimate the power of the PS2. It has a very good chance to match or surpass the Xbox\'s and NGC\'s graphics. (but again, graphics is all an oppinion thing anyways. Thank you Ryu for posting those two links in your post. If anyone hasn\'t read those two links, do it now.) I\'m sure you\'ve heard this many times, but there is a lot of untapped power still left in the PS2. EA has discovered how to do in game surround sound, which until a couple weeks ago, was thought impossible. Source:
Click Me. One quote that I absolutely love from that last link is,
"Is it just me, or does PS2 just keep proving all its critics wrong over time?" 
You have seen what the PS2 is capable of with Jak and Daxter. You said it yourself, "I chang my stance from totally not interested to curiously optimistic." (Well, it\'s a start

You will soon be converted into a JAD lover.

) Just imagine what the games will look like in two years. Jak and Daxter quality graphics will be a lot more common, and the great developers now will be surpassing JAD graphics then. I don\'t think that Sony has anything to worry about right now or two years from now.
BTW, here are the first results of "Was TTT a disappointment?" coming from the most hardcore players in the world:
YES: ||||||||||||||||||||||||| (0 votes)
NO!:
||||||||||||||||||||||||| (7 votes)
It looks like the hardcore
do like TTT. So you can put your
"the game was a dissappointment in the eyes of most hardcore tekken players" argument to rest. Go
here to see the results for yourself.