I'm a big console freak.
The only console I have that I dislike is the PS2.
The game selection is crappy (quantity is great, but quality is few and far between). The graphics are between good and bad (whereas Xbox and Gamecube would be "excellent") and many games have a framerate that's so low it's unbearable.
There are a few gems, such as Baldur's Gate: Dark Alliance and Splashdown, but in general I'd say it sucks. And it's really really noisy too.
As a matter of fact I still prefer my Dreamcast over my PS2. By far even. The game catalogue kicks the PS2 all the way to hell and back and often the games look way nicer on the Dreamcast too.
It's kind of hard to get hold of new games for the Dreamcast now though, and that's really the only reason why I wouldn't recommend it unconditionally.
Instead I'll point towards the Xbox and the Gamecube. The Gamecube has a couple of really good first-party games and a lot of support from SEGA. Obviously it gets the classic Nintendo titles, which is always good. The Xbox is where the action is at if you want awesome graphics, brilliant games (Halo, Jet Set Radio Future, Splinter Cell, Mechassault, Amped, Oddworld, DoA 3, Morrowind, Gunvalkyrie, Rallisport Challenge and besides those (and many more) there are also the titles that are coming for all three platforms. Besides Xbox does have the ultimate ace up its sleeve: Xbox Live. The headset works so well it's unreal. Can't wait for Phantasy Star Online.
Forget who made it - it's the best contemporary console out there that you can buy today. It's all about the games.