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Yeah, I couldn't get to the SMS menu without first opening the PS2 tray as it tried reading swapmagic as the media.
I tried rewinding the movie I was watching a couple times, and it froze on me, bummer, I heard a soft modded PS2 was just as good as an external divx/dvd player.
The Up + L1 thing is kinda hit or miss, it worked the first time for me, but it hasn't worked since.
Thanks for the help though !
try converting your movie to .mpeg it should find that