Rattles post above is correct but in theory you'd prolly find it to be both too time consuming for the wiring and too costly.
The PS2 Bios would need to be completely replaced and seeing as its a 32 MegaBIT part (4 Megabytes) , flash parts of this size dont come cheap.
Youll also probably find that the 2 chips on the Magic2 work in tandem , with the SX controlling the bios patching routines of the xilinx depending on the jumper pad configuration. This would obviously have to be taken into account to produce patches for the different regions. Modification of the SX hex is needed but thankfully isnt too hard.
As it stands , magic2 is the easiest solution so far to hombrew .. unless someone releases hex that can reliably patch the bios on the fly using a scenix micro running at 50mhz .. and then combines it with the current magic 2 scenix code ..
hang on .. thats a magic3 aint it ... lolol