The Angry Videogame Nerd recently did a review of Lightspan Adventures, a series of edutainment games for PlayStation. I'd never heard of it -- I was in college by the time the PlayStation hit it big -- but apparently, more than one school district procured PlayStations for the express purpose of playing these games all in the name of "education".
Compared to the usual educational hardware PlayStations are really cheap. If you're putting 10k beamers with 3k PCs in every classroom, who cares about the few hundred bucks to buy a couple experimental devices that make your school look cool.
"The usual educational hardware" consisted typically of Apple IIs and overhead (transparency) projectors -- even in the mid-90s when the Lightspan stuff came out. Today might be a different story.
You never know if they keep producing innovative educational products.