I've definitely considered it. If I could find one in good condition for cheap, I might go for it.
I bought this one:
http://www.gamestop....urbished/107651
Pros: Easy to hack, cheap, no need for a memory card, easy to hook up to a TV/Monitor and use a DS3 if desired.
Cons: Controls probably suck for some games (but I mainly play things that don't need precise controls on it)