Before I start sorry for and lack of detail, I'm not very up on the inner workings of the PS2.
I have a silver pal V9 fitted with a Magic V 50k. It has been working fine for around a month and is still working. However I have been worried about using it too much due to the dreaded V9 dieing syndrome. I phone the place that had chipped it to see if they had any info and they said that it was caused by a certain chip burning out( cant remember the name I think it was something a). He said that they fit a heatsink to it during the install so it will be fine. They said they have sold 50+ with no returns. Even if this turns out to be true he assured me that if it died it is fully covered for 12 months anyway. Does this explanation make sense of was he just trying to get me off the phone. He sounded sincere.