There were a few people who complained about noise like what you
and AhDan described in the PS2 mags.. it's due to the disc not
being properly balanced.. for original games, it's a manufacturing
defect and if you can show that other discs do not make the noise,
the sellers are obligated to give you a new one which will not make
the noise (at least in the US)
the consequences of the rattling are, like AhDan said, a scratched
lens, a scratched disc, or worse, a busted motor for the DVD
drive