I'm just another newbie interested in PS2 development and modding. I have some knowledge of computer hardware after having been a tester for the PCSX2 emulator. Anyways, it's nice to meet everyone.
No horror stories beyond simple emu crashes and seeing some weirdness with geometry and things of that nature. I have seen some interesting developments in the emulation community though. Not too long ago, another emu dev proved that the PS2's IOP(MIPS r3000a) still contains the PSX's GTE coprocessor. It makes sense in hindsight, but it was proven true. Hopefully some advancements can be made towards looking at how the PS2 handled its backwards compatibility