probably not since it was made for ps2 gamesunless it does in fact have psx game codes. i think ps2 and psx have different loaders dont they?
you'd have to use ar max for ps1 no matter the console(psx/ps2) for psx game disks.
if your having trouble loading a disk u can use another, wait for the loader screen to come up, then swap it out for the one that has loading problems. timing is critical.