Best option for playing PS2 on a monitor?

Hmm I wouldn't know. My monitor is fortunate enough to have component input which is awesome quality for ps2. I think you could find a cheaper way then a $40 converter
 
Be careful to pick a box designed for gaming since a lot of generic video capture devices have a lag that will make gaming awful or even impossible.

If you want something nice that works well, be prepared to spend well over $100.
 
I'd try to find a box that converts from component, to avoid the potentially awful signal loss of composite video.

PS2 shouldn't be too difficult for normal users.
The hardcore fan will find its multitude of video modes frustrating. PS1 games are largely 240p, while importers need to take both 50hz and 60hz into account.
 
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