When I start playing PS2, it'll use anywhere from 200-350k "mem usage", as shown in my Windows Task Manager. I'll get between 20-30fps, which is manageable. However, as I go along, the mem usage will constantly increase, and when it reaches 1,200k mem usage, it crashes. It doesn't matter if I'm doing a big battle or just looking at scenery, it'll do that same thing, and I'll have 3-7fps. All settings are on low and minimized as far as they can go. Windows XP AMD Phenom II X2 2 GB Ram (<--- Could be it, am fixing this problem ASAP) 512MB Video Memory GeForce 8800GT
Unfortunately your entire set up is on the low end spec wise, but it would definitely better if you had 3GB or 4GB of ram (although Windows XP can only address about 3.2GB of it).