From what i can tell so far not very well. The only game i could get to work was
Resident Evil 4 and even then it was only running at 5-20fps.
The first problem was the plug-ins had all kinds of errors. They kept saying Update your DirectX and I'm already at DirectX 10.0
So i downloaded ZeroGS KOSMOS 0.97.1.dll plug-ins Because none of the GSdx.dll's or The ZeroGS.dll would work at all, same stupid error. Then I had to change the sound to DirectX sound which is not the default in SPU2.
Then finely it would run the ps2 bios with no errors exp that it was running at 5fps.
Though over all if you got a good graphics card you should try because i think my graphics card was the problem with it running so slow.
btw I'm running Ultimate Vista 64bit edition, 3GB DDR2, AMD Athlon 64 X2 Dual Core Processor 4400+ 2.31GHz, NVIDIA GeForce 6150SE nForce 430, 320GB HDD SATA2.