It depends on whether or not you're a dynasty/fantasy/stat guy, or just play pickup games with friends here and there.
I have espn 2003 for ps2 and its THE best for career/dynasty play. I would only assume its even better for 2004.
I have mvp 2004 for my laptop and the graphics are great, but the dynasty mode is horrid. You have to play at least 50% of the games each season for the made up players in future years to have realistic stats.
So if you have some phenom player down in AA or AAA that you think will fill right in for someone retiring or that you can't afford to keep around, he'll wind up hitting .260 with 12 home runs if you don't play at least 81 games each season. I don't know about you, but that's WAY too many games to play. I'd be done with the season by the time the next game comes out.
There are also quite a few "in the game" bugs such as outfielders getting "stuck" against walls when the ball is a few feet away and the guy who hit it winds up with more bases than the hit warranted.
I got a burned copy from a friend, so i didn't waste any money on it.
I still play espn 2003 on my ps2 system in boston when i'm there. The graphics imo aren't too far removed from that of mvp's and everything else is better than mvp.
The only EA Sports games that consistently "bring it" are Madden and NHL. Soccer is my favorite sport, and FIFA has been hit or miss thru the years. Total Club Manager also has way too many bugs/crashes. Eleven 7 is the best soccer game out there right now.