Best way? PS2 fat with a HDD loader. I don't really follow modchips, but I wouldn't get whatever was on "sale". Plus, ps2 mods are a billion tiny solder points. With the hdd, you can just ftp stuff to the hdd, but I have never bothered. I usually just get the games I want on sale about 3 months or so after they come out.
Even better way would be get PS2TEST and get whatever region titles you like. Best way to spend money me reckon~
I bought and installed an Origa chip in early '02 to play imports - it was a pain. For backups I just use the Cogswap method on my other PS2- requires action replay to load exploit to memory card and you must have a way to swap discs but it works a charm.
origa chip is a pain in the ass.. but its the 1st few available. have since moved on to DMS3.. everything works..
DMS3, DMS4, Thunder Pro, Matrix Infinity... Those are the best to make a PS2 more fun. And i'm not talking about piracy.
Well, my PS2 is modded so i can play imports, use HDD, play homebrew games, watch DivX movies, play emulators, make backups of saves,...