Meh. I suppose I will share my PS2 softmodding knowledge. (I did a lot of research before softmodding a PS2 back in august and just recently when modding my friend's PS2).
Okay, so how I installed Free McBoot was by doing the "swap-trick". I didn't know anyone who had a modded PS2 and really didn't feel like shelling out money for a swap-magic or pre-made memory card. It just seemed stupid to me when I could just do it myself.
SO. I looked online (google is your friend, man) and found out that certain games were exploitable with the swap method. This aforementioned swap method is the act of blocking the sensors in your PS2 Slim (Slim only!) so that the disc spins freely with the lid open. By allowing the disc to spin freely, you can switch out a normal retail disc for a bootleg disc of the same game (this is often used by people who have a messed up disc and want to play the game without buying it again). How does this allow me to install the mod? you may be asking yourself... Well, the bootleg image of the disc has an exploited iso of the game burned to it. This iso will boot into a file-browser that allows you to launch .elf files (PS2 executables) from memory cards and USB devices. To install FMCB, you place the install files a USB and then launch the installer from the exploited disc's file browser.
*Huff huff*
It sounds difficult, but I though it was really easy to do and only cost me about 7 bucks (5 for the memory card, 2 for the game you need to exploit). And before you ask, yes you can only use certain games for the exploit. I personally used
James Bond 007: Agent Under Fire, but the interwebs says you can use Metal Gear Solid 3 and some other games I am totally blanking out on right now.
As for emulators, I don't personally use them on my PS2. I use a softmodded XBOX original for all my emulation and media needs. But from what I have seen, there are only so many emulators available for the PS2. Pretty sure there are NES and SNES emus, but that is all I have looked into.
And it might also be worth pointing out, you cannot buy just any old PS2. Certain PS2 slims made after a certain date have a patched BIOS and therefore cannot be modded. I had to be careful about this when giving my friend a FMCB memory card.
This website has some really good information on PS2 softmods and you should definetly check it out. It also has the places you need to go to download Free McBoot and your emulators.
Happy Modding!