The compatibility rates boast over 80% of all PS2 games as playable and provides an enjoyable experience for reasonably powerful computers, but provides support for lower end computers for those curious to seeing their Playstation 2 games working on their PC! PCSX2 is a Playstation 2 emulator for PC which has been going for over 10 years. After that, the PCSX2 setup procedure is quite lengthy, although if your Playstation 2 is broken, you'll find this a more than adequate replacement. Don't worry - the speed difference is not that great. If PCSX2 still fails to allocate the memory, simply use the TLB version.
First try running the VM version, following the instructions given (type your account user name, log off/on and restart). The TLB version is pcsx2t.exe while the VM version is pcsx2.exe.
PCSX2 comes in 2 versions, the TLB and the VM (virtual memory) one. It struggles with high-speed action and is prone to freezing or crashing at the most annoying moments.
PCSX2 does the job remarkably well, but don't throw your Playstation 2 away quite yet. PS2 Emulation is a complex task, far worse than emulating previous generation consoles like the PlayStation 1, N64 or Saturn, simply due to the CPU power required to get 'playable' speeds from a PS2 game under emulation.