yes it has co op play
i dont play online yet because i need a router, but it is fun putting around offline with my girlfriend riding shotgun
Unless you are really into PSO though, or can get it for a discount.. I'd wait for the new C.A.R.D. game to come out soon.. it looks like a lot of fun.. turn based, card playing.. like Yugioh, but online..It got good reviews in japan, and i have a buddy from highschool in Tokyo that got into the trial version and he liked it..