I was in the same situation. PS2 died, had a good collection of games. I bought a 360. I don't regret buying a 360. Its great to game in hd on my 50".
However, I still want a ps2/ps3. There are at least 2 reasons. First, there are some PS2 games that I still want to play. Gran Tourismo (though that may change when Forza 2 comes out), Kingdom Hearts, etc. Second, God of War was Bad***. God of War 2 is coming out.
For me, the tougher question is whether to spend $130 on a ps2, or just bite th bullet and buy the PS3. There's not a single game out for PS3 that I want at this point, but the blu-ray would be nice. And I'm sure there will be a PS3 exclusive at some point that I'll want. They are d*** expensive though. Seems like a waste to pay $130 for a dying platform, but for the $700 of the PS3, I could get an 8800gts 640, C2D 4300, DS3, 2 Gigs of Ram and have the superior gaming machine. Tough one.
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