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Is chipping the only way and is it safe?
:-D
but if you can afford a 500quid dvd/rw to make backups, you can probably aford original games.
As for "chipping" i've nothing to say on the subject, sorry :-D
Get a neo 2.2 (or newer) chip for your ps2, these cost a tenner or less, and are very easy to fit, however sony changes the motherboard of ps2 regularly, so the attachment points are always moving. Your warranty is then void, but hey, warranties don't last forever, and ps2's are just £199.
Rent games from blockbuster, and using your cd writer (and DVD drive for dvd roms) equipped pc, copy the games, you can find tutorials on most games on the internet. You'll need a few software packages and afair bit of patience.
However, you'll also need the Sony cd/dvd generator (not for sale at any price from Sony) to recreate ps bootable discs, and a stack of blanks for all of the coasters you're going to burn.
To play em, you'll need to boot your ps2 with an action replay 2 disc, then swap to your ripoff disc.
Best to rent em and play em legally from blockbuster.
Or buy them, and sell them on when bored.
Also Sony will have nothing to do with you. All in all, its a bad idea.