EMUtion Engine , a brand new PS2 emulator, was just released; check out what was just posted on their homepage:
Today Jez decided to release the first version of his ps2 emu. This first release only works with ps2 demo's. So don't even bother trying commercial games or ISO's.
Good to see another PS2 emulator hitting the scene, good luck Jez! We hope to see great thing in the future for you and your emulator.
Oh and Falcon4ever nice site design
You can grab the release from here!