The ps2 is a different animal
There are two very big problems when trying to emulate the ps2.
It doesnt use the same codes as the desktop cpus anymore nor can it be easily emulated like the psone's.
The main difference is
the two 128 bit SIMD pipeline of 10 stages each it is using.
Desktop cpus are mostly 32 bit and when using simd the p3 can pull it's two 32 bit simd (sse) pipelines to from on 64 bit simd pipeline. not enough and not even similar in execution.
So dont put down a ps2 just because of it's 300 mhz speed.
Speed isnt everything but throughput is.
The ps2 uses 2 128 bit SIMD pipelines of 10 stages each.
then it also has 10 floating point multiply and add units.
It is also a true multimedai cpu since it can process up to 8 lines of streaming data and act on each one at the same time
unlike the desktop cpus which can actually only act on one line of data at the same time anytime.
Desktop cpus only seems to handle so many programs at the same time because it switches between each data chore very fast, too fast for the human eye to follow.
But the ps2 engione is working on 8 lines all at once all the time.
That's why Squaresoft designers said that they were only able to harness 30 percent of the full power of the ps2.
Now asides from those really big stumbling blocks, the SIMD language used by the ps2 is way different and much more efficient than that of 3dnow2 or sse2.
There isnt even any comparison.
So 300 mhz emotion engine with all it's simd pipelines working at full capacity has greater 3d calculating (floating point) power than even the gigahertz desktop cpus for the software that is optimized for it.
While 3dnow claims one instruction equlas 4 data results the ps2 can on one instruction make 10.
It doesnt help that it computes at 128 bit.
So It will take a really powerful desktop cpu with a really good program to even try to emulate the ps2.
I think this will be a very difficult emu to make the hardest one to date.
It doesnt use c++ the way we know it.
Up to now new libraries have to be written for it.
Sony it self couldnt provide the libraries to the developers because
it would take them years to do so.