i've been lucky cuffs... got my ps1 about 8 years ago, had it chipped within days, and despite the cup of tea my mate poured inside the console last year, its still chugging along ok!
your right about loading times tho, it does slow it down loads.
when i got the console chipped, ps1 games were still £40 new, £30 second hand, and not going down in price... and well, a new game for £3, delivered to my door, it was too tempting... the coppied games were being advertised in all the local papers for about 2 years before someone complained and it stopped....
i did think about getting the ps2 done, but have been told its hard to do with this unit, and i just don't have the contacts to get it done now. and at the moment i'm picking up second hand games for £15 average, and have about 15 games that still have plenty of play time left in them, so just no need to have this console chipped as yet....
theres a stall on our market (not car boot) that sells coppied games that play on a ps2 that isn't chipped.. not tried them out, but the stalls there every week, with loads of interest, so i guess they work.... i used to get coppies for the dreamcast, and that wasn't chipped...
never did buy many games for the dreamcast though.....
hugs janx