It's not always a matter of how great the graphics are, I think.
Gameplay is much more important. Plus there're lots of games out for the PS right now. How many are there for the Xbox?
Some guys remember the C64 (Oldschool rulez)?!
Even when the Amiga and then the PC came out
the C64 had still the more fun games to play.
If a game sucks I don't really care how amazing the gfx are.
Xbox is promising better gfx than the PS? I'm not excited.
The PS2 has all the capabilities to be a great console with the right programmed games. O, and Quake 3 plays already very nice on it! There will be always somthing to improve even with the Xbox!
If you would ask me I'd get the PS2 NOW.