It's got an installed base bigger than all three current-gen home consoles put together, boasts a phenomenal library of software, and is continuing to reach out to younger audiences and kararoke fans though Buzz! and SingStar.
They've even got a fitness game on the market already through EyeToy – Wii owners will have to wait until next year to get their hands on something similar.
And it still boasts a highly significant presence in terms of full price and budget software, judging by last month's software sales report from ChartTrack – it outsold DS, PS3 and PSP last month in unit terms.
I may be pointing out the brazenly obvious, but it's easy to get stuck in circles talking about the usual suspects – the three-way fight between PS3, Xbox 360 and Wii, and the handheld battle between PSP and DS.
And now it's going to be cheaper, more compact and an even greater force at retail. While of course it is a fading superpower, as a sales achievement PS2 stands alone as the benchmark of exactly how powerful a force a games console can be. In this rather more fragmented market, it's difficult to see any format dominate in the same way.