I tried to run Way of the Samurai 2 on pcsx2 0.8 but it's extremely slow - the framerate is about 2-3 fps, and I have a good CPU (Pentium III around 3 GHz) so please could you tell me the faster plugin configuration (regardless of graphic quality)?
go back to the setting that gave you working graphics first.
in your GPU adapter's control panel (if you have an ATI or nVidia GPU) choose Fastest setting in Directd3D, disable antialiasing if needed.
this should give you a significant improvement.
making an image of that disc and mounting it in DaemonTools would be faster than directly running from DVD drive.
however I doubt it gives you full speed on this game. PCSX2 is NOT YET optimized for speed.