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At the moment the time difference between games being released in the Us/Japan/Europe is getting smaller. An example of this is ZOE. Konami have said that they want this released in the UK as soon as Possible after the Japanese release. Also many games are released here before anywhere else; Driver, Spyro3 etc. So playing import games is a bit of a waste of time,
Playing pirated games is illegal.
Some PSOne games and possibly many future PS2 games can detect if you have a 'chipped' machine.
Finally if you have a chipped PS2 it invalidates your warranty so if something goes wrong you'll be paying for it!
1. better quality
2. affordable ps2 game prices(at spcial reserve)
3. isn't it illegal ??
In the meantime they are also working on a way to mimic the laser "focus" signal so that backups can be used without a disk swap in future.
Just have to wait a little bit longer.