I wouldn't buy a GameCube, stores in the UK are getting rid of them for £79 now.
X-box is just a cheap PC really, I can't help but think M$ will try their "tactics" with the gaming community and we'll soon see (too soon for the traditional gamers) X-Box 2 then X-Box 3. They may try to commit users into a fast upgrade cycle and wean them into M$ extras/services. They don't understand gamers though, they typically aren't PC sheeple, and they clearly got the Japan market wrong, a console so big it won't fit in a typical Japanese house, LOL, with crap, huge controllers.
PS2 is without doubt the market leader presently so you will not be in any shortage of games. I have seen some incredible gfx on it (later parts of Devil May Cry, FF-X etc.) Technically it is the weakest, sure, but that doesn't seem to matter in the marketplace!