Here is a guide: http://www.videohelp.com/forum/viewtopic.php?t=221928
Read the complete guide so that you understand what it's actually going on.
[You will understand this comment after you read the guide.] Usually Sony DVD players resize the video for you, so I'm guessing the PS2 will do the same. I haven't tried it on my PS2 because I can't get -RW's do work, but my Sony DVD player played it fine.
US/NTSC V5 - Matrix Infinity v1.75. - Network Adapter - WesternDigital 80GB HDD - CodeBreaker v9.2