If you are wondering, freemcboot is sort of the equivalent to homebrew channel on the wii.
But my suggestion to you is...
Install freemcboot.
Add ps2 game loader of choice.
Play games.
I suggest using 'open ps2 loader v0.8'.
Runs games off of usb/hdd [even 1gb usb sticks], network, and can even load it straight from iso files, no need for converting.
Now I run games off of my fat32 partition that I use for ps2/wii with ease.
BUT fmvs, loading times SUFFER.
I think it uses usb 1.1 or something, but it's slow.
You're better off loading it off....
1) network [via Ethernet plug in the back of the slim ps2]
2) disk
3) fat ps2 w/hdd
And if you are wondering, my 14 year old brother installed freemcboot using the 007 swap disk trick.
He has never done any modifications to any console EVER and all he did was read guides off of the interwebs, so it should be simple.
He used this link.
freemcboot
If you don't feel like doing ANY modifications to the ps2 and feel like spending a reasonable amount of money, buy a memor32 card, install homebrew that way. No modifications to your ps2 at all.
tl;dr easy and anyone can do it = freemcboot or memor32 if you have the cash.