Generally speaking, I highly recommend dancing games for the PS2--they're great ways to get fun exercise, they make excellent party games, and they hone your sense of rhythm. The question is, which game should you get, and which dance pad?
Since this pad doesn't come with a game, I'm going to ignore the software question, and focus on the hardware.
I bought a Logic 3 Dance mat for my PS3 in January 2006. It's lasted pretty well, but it's slowly gotten a little more ragged around the edges. Now--after a little less than two years of being used twice a week--it seems to be on its last legs; I have to step on the arrow buttons just right to get them to register.
Two years of use isn't bad for an item whose function is to get stepped on repeatedly and energetically. Having read a variety of reviews, it seems that the Logic 3 Dance Mat is actually one of the more resilient options for a dance pad.
So I would certainly recommend the Logic 3 Dance Mat--you just need to realize that you will need to replace it occasionally. If you want a model you don't have to replace, you'll need to spend considerably more money and get a hard metal dance pad. (I'm not sure if Amazon sells them, but you can get them from many retailers.)
One last tip: it's tempting to store your dance mat by folding it up--but that will make it go bad MUCH quicker. If at all possible, store it flat. (It's thin enough that it slides easily under an average sofa.)