At the moment, I would definetly recommend Dragon Ball Z:Budokai Tenkaichi 2 for the PS2 and Wii. This game is HUGE, are so many characters to unlock in that game! It covers most of the dragonball z sagas and has over 100 characters (including transformations)!!! Also there is alot of replay value to the game. It can take you 50+ hours to finish the story mode alone!
although I’d also recommend getting its sequel, Dragon Ball Z: Budokai Tenkaichi 3, which is supposed to come out later this fall (07) in Japan and the U.S for the PS2 and Wii.
It will have +20 more characters, improved lighting and shading, day and night features for all stages (this will lead to different ways of transformations, like the Giant Monkey transformations (Oozaru) for saiyans that have tails) and many more!!!
I hope this helps! (:


Dragonballz: Budokai Tenankai 2 is the best with the most characters at this point, however there is a 3rd game being released in November for Japan and a US release of Q4 for the US.