Running the OS with real storage on a PC is a really odd method :lol:, but as has been noted before the network interface is much faster than USB on the PS2, so it does have potential. eg: I've used ffgriever's PS2PSXe beta to run PS1 games from ISO files stored on my PC, accessing them through the HOST driver.
TODO #12 - smb mount version loop device - have smb mount and loop device working manually but lots of "smbwritepage_sync: failed write, wsize-1024, result=13" errors. 840-880KB/s network faster than usb 1.0 though for booting PS2-Linux over samba/loop device. Still in early stages, may not work. <-- this weekend's efforts