I think getting a PS2 is suppose to be worthwhile, but problem is the retail price haven't dropped! The PS2 STILL goes for +-R1500 [which is what it cost long before the PS3 launched] . I believe once the PS3 takes off [if it does] the PS2 should at least drop to R1000 , ESPECIALLY if the PS3 price drops.
However, the PS2 games are dirt cheap right now. I've had my PS2 for a few years, and in the last year i've more than doubled my collection [legally

]. I mean NFS:Carbon is already on sale for like R250! PS2 games usually went for like R400+ , now i find most of them for R200 and less ....and THAT is why i would consider a PS2 right now.
So i'd say, maybe look for a 2nd hand PS2 [especially if are considering a PS3 maybe in 1 year or 2] for cheap and start building up a collection [you can replay them on your PS3 too].
ESPECIALLY if you are coming from PC gaming [never had a console before], sometimes it's a urge and then you realise you didn't really need a R7k console with games going for R500+ EACH, when a R1k console with R200 games would've "scratched the itch" sufficiently until the PS3 pricing makes more sense.
There aren't that many new games coming out for the PS2
I disagree, there are still more games coming out on PS2 than PS3 ! [God of War II to name a recent one]
Also see here:
http://www.gamesindustry.biz/releases.php
And you might also notice even games like FIFA 08 is released on PS2 -and- PS3 .