Console Modding

I plan on modding my PS2 so it can play foreign games.

Problem is, I'm not sure what to look for and what to avoid when choosing a mod chip, nor do I have any experience with soldering.  I'd like to avoid swap disks, as those are plain annoying.  I'd also like to avoid anything significantly more expensive than a game.

Suggestions?
Also, go ahead and discuss experiences with modding other consoles.

Stuff made in Japan isn't necessarily any better. I had two Dreamcasts, one made in Japan and one made in Malaysia, and they both died in the same way. Japanese electronics may be generally better, but hell, they get paid more.