And I have no idea if it will help your loading speed at all.
Of course, it’s better with it on – but it doesn’t save, so you have to turn it on EVERY DAMN TIME. That means if you want to play a PS1 game, you have to turn your PS2 on without a game in the try, set the options, go to the browser and wait for it to recognise the disc, and go from there. As soon as you turn the power off, it resets to default again.
Texture Smoothing will blur up the textures to make them look less sharp. Basically smoothing out the rough textures to try to emulate a higher resolution for textures. This works well in some games, barely noticble in other games and sometimes make certain games don’t load. Vagrant Story is possibily viewed the best with Texture Smoothing on.
Fast Loading, as it says, decreases the load time. They claim it’ll reduce it by 4x but in reality, it feels more like 1.5x or 2x. Some games can produce errors with this like music playing extremely fast.