It is backwards compatible with older PlayStation (PS1) games, allows for DVD Video playback, and will play PS2 games off of cheap CD-ROMs or higher-capacity DVD-ROMs.
The ability to play DVD movies allowed consumers to more easily justify the PS2's relatively high price tag (in October 2000, the MSRP was $300) as it removed the need to buy an external DVD player (indeed, it could be said that the success of the DVD format was partly due to the PS2's ability to play DVDs, as the format seemed to appeal more to consumers after the console's launch).
There are also some disputes on the numbering for this PS2 version, since there are actually two sub-versions of the SCPH-70000.
V5 introduces minor internal changes and the only difference between V6 (sometimes called V5.1) and V5 is the orientation of the Power/Reset switch board connector, which was reversed to prevent the use of no-solder modchips.
However, the release of several blockbuster games during the 2001 holiday season pushed the PS2 far in front even as the Xbox and GameCube made their impressive debuts.
A product named HD Connect can be soldered into the unit giving hard drive support though.
The PlayStation 2 was such a hot item after its release that it was near impossible to find one on retailer shelves, leaving those wanting a PlayStation 2 to either wait or purchase the console online at sites such as eBay, where the console was being sold by many people for twice and sometimes five times as much as the manufacturers listed price.
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