[SIZE=2]The PS2 will play MP3s as long as they are recorded on the CD as an audio CD-not as a data CD,which would let you hold much more.You will be limited to 74 minutes (or 80 depending on the CD-R/CD-RW blanks you buy) of playtime.
Other than that the PS2 plays PSOne games,PS2 games,DVD movies and audio CDs.
Hope this clears up some of the possible confusion.[/SIZE]