A few facts:
99,9% of all Ps2 games are DVD5 so u dont need to rip em (there is only 10-15 thats DVD9).
U just make a 1 to 1 copy using your favorite copy software. Many people use Dvddecrypter (freeware from www.dvddecrypter.com) to do the copy. Use DAO/RAW in other software if possible.
With Ps2 CD games u do just the same.
Swap Magic dosnt boot Ps1 backups. I suggest u get the Breaker Pro v1.1 swapdisc it boots ps1 backups on a Ps2/PsTwo. If u have a Ps1 Gameshark or Ps1 Action Replay cd ... u might be able to use em to swap Ps1 backups too (soem works some dont). Id get the Breaker Pro anyways because it pretty much the one and only ps1 Higt Toc swap disc in existence.
So what version of Ps2 do u have? Look at the back of your ps2. There should be black sticky and at the top ull see something like "scph 50004" or another number. 50000 to 50004 is a v10 and it CANT do the memorycard exploit I know I got one. If the number is below 50000 it probably work with the exploit (lucky u). So what does your number means? Look it up on the net, hopefully someone knows
So what is the memorycard exploit? Well, somehow u install software on your memorycard (like swapmagic, cogswaploder, cd-loader ...). U then use a real ps1 games to trigger the software on the memorycard. So basic if u know someone (or know of a way to get stuff onto your memorycard) u dont even need a real Swap Magic set... its a bit technical tho... u need to make it work with the exact ps1 game u have.
U can look into it exploit-thing on this site or at http://www.exploitstation.com (theres some premade saves in the forum).
What u must remember is that even with the exploit, u still need to swap using slidekey/fliptop just like if u have swapmagic... so it isnt that much more easy, it just cheaper.
So what is that Toc-swap-thingy and why do I need a real Breaker Pro cd?
Well the ps2 has a protection that dosnt allow it to boot games larger than the swap disc. The Swap Magic DVD disc has a toc of 4.35GB, so if u try to boot a copy of Tekken5 (toc of 4.37GB) it wont boot ... or itll freeze loading/ingame. Or if u are trying to boot one of them 700MB dvd-rips (ps2 dvd downsized to cd-r) and your Swapmagic CD is only 632MB itll fail too.
So ull need 1 real big DVD game (4.37GB ) like Tekken5 or Devil May Cry 1,2,3 GTA3 or timesplitters 2. And ull need Breaker Pro because its the only Ps2 cd bigger than 632mb (its close to 1GB in size so u can even boot 800-900mb cd-r).
Then u do this:
1. Boot Swap Magic CD or DVD (dosnt matter if its cd or dvd)
2. Press eject (tray opens and screen say "insert large toc disc")
3. Insert your real large disc CD/DVD (use cd if u wanna play cd backup, dvd if dvd backup)
4. Press eject (tray closes and disc spins down)
5. Swap in your backup CD/DVD (using slidekey or fliptop)
6. Press x (and it should boot)
PSP 1.52 (DG), DS 001, XBOX v1.6B+Cheapmod+120GBHD, SM33, 50004+HDA10+120GBHD, SM32, BP11, 3900X, XBOX v1.6+Softmod, P4_2.666, GBASP, GBA,Celeron_700, DC, PS1, P2_300, TI85, Saturn, GBC, GBP, Megadrive, P75, Amiga 500, MS, 486SX25, Amstrad CPC464, ZX81