Ok I've learned alot today and been experiementing with various elfs through the mc0:/BOOT/BOOT.ELF method. ulELF oads up just fine on my PS2V9 Matrix Infinity 1.82 (Shipped with this version and all the upgrades seem to be minor) in Auto or Dev1 mode by pressing R1 on the slash screen.
After putting boot.elf (just tried lower case but upper didn't work either) (with LAUNCHELF.CNF) on my __boot HDD partition with the "SITE MNT" FTP command (thanks LookAtTheMonkeys) I tried taking out my memory card (just to be sure) and changing it to Dev2 mode just got a black screen when I tried to launch my boot.elf through the splash screen + R1 method. I could hear the HDD activating when I hit R1 to launch the boot file...but it just goes to a black screen after hanging on the MI splash for longer than usual while it reads the HDD.
P.S. As a side question I would like to make it so the reset button ALWAYS works with one press. It seems like tapping it only works in certain situations. Most of the time I end up holding it for 3-4 seconds for shut down and then booting it back on just for resetting.