Well the playstation won't load any more. I think it might have something to do with the laser, but it is a old ps2.

What now? Should I cough up the money for the new PS3? or should I just buy another ps2?

Normally, I'd ask if you have the warranty, but you said its old so doubtful.
You could always just get it repaired. I know someone does that around here for like $30.
Or you could buy another PS2, but laying down a $130 on something you already have had for years is kinda meh. I mean, that's just more than a third of what I payed for mine when I got it 4-5 years ago when I payed $300.
I, personally, would save up money for a new console. PS3 is the way I'd go.

Speaking of "broken" PS2's, my PS2 takes 3 minutes to boot up a game. Plus, I need a special way to open it. I have also broken off the faceplate with my special way of opening it. But it's still working!

I wouldn't buy the ps3, it probibly would work for less time than the ps2 would. I'd buy a slim, those things are the best

I'd save up for a PS3

My first post in awhile.

Anyway it depends what region your in.
If you live in America save for a ps3, If you live in Europe buy another Ps2 so you can play your old games. The reason? Sony removed the Ps2 chipset from European Ps3's therefore very limited BC

Limited backward compatibility that could be updated as time goes on....at least that's my understanding.

But still, how much are the PS3's going for in the U.S.? If they're anything less than $500 then I'd say go for that instead. That's assuming you live in the States.

IMO, look for a PS2 on Ebay, if you get lucky, or know someone, you can find a PS2 for 40-50 dollars.

Be careful though, make sure you only look for the console, if you still have the controller and stuff, you shouldn't need anything else, so you should only look for a console.