PCSX2 comes in 2 versions, the TLB and the VM (virtual memory) one.
It struggles with high-speed action and is prone to freezing or crashing at the most annoying moments. PCSX2 does the job remarkably well, but don't throw your Playstation 2 away quite yet. PS2 Emulation is a complex task, far worse than emulating previous generation consoles like the PlayStation 1, N64 or Saturn, simply due to the CPU power required to get 'playable' speeds from a PS2 game under emulation.