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Dont get the 200 cos youll be too scared to use it.
Id wait till the insurance is a bit easier to chew so keep the 1.2 for now and keep saving.
In a year or 2 the 200 will be worth about 11k youll have the cash to snap one up with out being in too much debt.
I thought about getting a ps3 just for this but its coming to xbox.
I got a ps2 on launch for metal gear on that.
Metal gear solid on the ps1 is one of the best games ever.
got my cup new and sold it on about 55k with no problems, not even new discs (and i did track days in it)!
Day has had it since then its its been spot on since then too tho its just had a problem with the dephaser (sp). Think its on 88k now.