I know I had heard of some way to play PS2 games on the Xbox using a modchip with an extra bank or something of the sort. I was wondering if anyone had any info pertaining to this?
Ps2 uses emotion engine, you would have to emulate that since I don't think its the same architecture as the xbox cpu, basically its no way possible unless you emulate, which wont happen on an xbox.
The original Xbox is basically a PC in a console shell. The architectural differences between Emotion Engine and x86 CPUs are too big to allow a modchip to give compatibility between them. For these cases emulation is needed and there's no way a Pentium III-based console can handle that kind of work.
Many people have benefited from the fact that the Xbox is very similar to a PC in order to deceive others that their emulator was real when in fact they did something or virus.Xbox is a Microsoft console. It uses modified x86 compatible hardware, making it possible to write an emulator for it. You can also find many homebrew applications and emulators that run on Xbox.
I haven't tried emulating PS2 games recently but from what I recall, even with a beast of a PC, the results were patchy at best. The Xbox certainly had superior hardware to the PS2 but not that superior. Even the PS3 has a hard time playing some PS1 games properly, unless you're using the original 60GB release which included PS1 hardware.
My i7 laptop at 1.6ghz ran FFX at 50fps out of the 60fps max at the intro. In game it got lower, haven't tried the recently released build though.