I am not kidding if you cannot buy play station 2 for your kids buy them a dish TV. Zee's dish tv has recently launched a service that's called playjam in which you can play game on tv using the settop box remote.
I admit that you cannot play games like doom or halo but still you can play games like those flash games that you play online. To see what kind of games you can play go here.
This is a good thing for those who cannot afford a separate gaming system, they will be updating games every week or so. So not a bad deal you get your tv and your kids get their games.