Got an old friend coming in town for the weekend and we enjoy a good head to head action game (have plenty of sports).
Our favorite game was the N64 version of James Bond’s Goldeneye. We always played the one shot, one kill head to head version. Good stuff.
I don’t know of any for the PS2 that are comparable. Anyone have a suggestion for a rental?
Timesplitters 2, is about the best two player 1st person shooter. If you want a fighting game check out “War of the Monsters” for its homage to 1950’s sci fi. There are James Bond based 1st person shooters on PS2 but they don’t rank quite as highly as Timesplitters 2 when they are reviewed (check www.gamesrankings.com for a combined total from many review sites)
Is there a H2H option on Timesplitters?
Yes, there is, with many, many different coop, team modes, and bots. I want to strongly second that recommendation for Timesplitters 2 – it’s easily the best multiplayer console FPS since Goldeneye (I haven’t played Halo, though), and since it was made by many of the guys who left Rare, it really has that Goldeneye feel to it’s interface and level design. Also, there’s a dam level that’s straight out of GE.
May I also suggest Winning Eleven 6 soccer? It’s not action, but it may well be the most fun multiplayer (or any other, for that matter) sports game I’ve ever played. And soccer’s non-stop action, technically speaking. 
If you want to go the cheaper route, the first Timesplitters is good, too.
If money isn’t an issue, buy an XBOX and get Halo. You won’t be disappointed. Halo is the best of the genre.
Red Faction 2.
Twisted Metal Black
Blooy Roar (the original, even though it’s on the PS1).
Apparently you can hook up 4 playstations and 4 tvs together with an I-link on Timesplitters. That would indeed by crazy.
I take that back. It’s 8 consoles.