Use Free MCBoot-Installer v1.3beta, rename "loader3" to "BOOT.ELF", place it in the same directory, as FreeMCBoot 1.3 Beta and start the installer.
Launcher 3 will be embedded to your OSDMAIN.ELF, along with your DVDELF from rom, or your DVDELF.BIN, which must be in the same dir, as FMCB-I.
Also a more comfortable way, to load ELFs, with Button-Start (NoMod-Users will love it I think.).
PS2 V7/DMS3 V2 (FW:2.4b7); Seagate Baracuda 200GB
PS2 V7/CC1.0 (FW:34 hacked v2 BM:2.1.6); Maxtor DiamondMAX9 PLUS 160GB
PS2 SCPH-30004R; NoMod+NoLaser
3xSony MC 8MB
MAX/Datel 16MB with Boot-CD
Custom FMCB 1.8b+ Beta-Build, my AIO 0.5, Sony&xRhino-Linux