Ah, so that's my mistake. I figured that since pcsx2 is a ps2 emulator, it would behave like a ps2 and be able to emulate ps1 games as well. Guess ps1 game compatibility was low on the developer's list, as it already has an emulator. Makes sense
Thanks a lot, Bositman, for clearing this up. I am unable to test a ps2 game yet, but will post the results once I do.