So, this new Ratchet game is out, and i want to play it, but i've never played any of the other ones. What should i do? I no longer have a PS2, so playing the old ones isn't really an option. Would i be ok if i just watched a playthrough of the games on youtube? Or maybe an even faster solution would be to just simply read the summary of each game on wikipedia or something? I was thinking about reading up on the old games, and then start playing Tools of Destruction before moving into Quest for Booty, and then Crack in Time.
 
Watcha guys think? Would i be totally lost? Or would taking those shortcuts be ok for me?

I've heard that it has an intro movie that updates you on all you need to know in order to understand the game, although I haven't played it myself. It's not released here until the 6th :(

I'd say you're on the right track, but all you really need to know is that Ratchet is the last lombax, Clank is a robot, dudes are evil, Clank is captured, and Ratchet must find Clank.

I started with Tools of Destruction and I had no problem with it, since the "Future" story start with that. Also Quest for Booty is pretty minimal in story revelations...you could read the wikipedia article on it and skip it entirely.

Yeah, pretty much echoing what the rest of the guys have said, theres a quick video at the start explaining whats happened so far in the 'Future' series, so it'll  get you right up to speed. The previous stories dont have a lot of bearing on this one, but theyre worth checking out to flesh out the background a bit more - mainly RaC: UYA, as that one kind of sets up the whole character of Dr. Nefarious (whos great!). The wiki should do the job!