The PS1 was the first console I bought day1. I didn't regret it at all. My favorite launch title was Battle Arena Toshinden....specifically Sophia's bitch slap move. I still laugh when I see that. Really wish I had a gif of that move(hint, hint), I'd probably use it a lot, because...well...you know, some people truly need it. LOL!
But when it comes to PS1 these days, the one game I always go back to it for is Road Rash. The one that was also on 3D0. I never get tired of that game. The crazy artwork, the funny cutscenes, the awesome music, the excellent gameplay. It's the game that shines brightest in my mind when anyone mentions PS1.
I remember when they released the first dual shock for the PS1. I immediately went out and bought it....and took it back about 2 days later. At the time, I couldn't get used to the analog sticks and got real frustrated with it. Months later, I bought it again since games were starting to require it. Took me a while, but I got used to it. Now, I can't imagine playing a Playstation game without those analog sticks. Funny how things work out like that.
As for PS1 graphics, yeah, they haven't aged well, but at least we have Duckstation now to spruce them up a bit.