Hi there!
First of all, thanks for the port.
I also did some experiments in the past with this project, but I tried to make it work always from the original source code.

I'm suggesting that you solve some issues and simplify things, which will probably make it work in the real hardware.

Instead of you manually loading the IOP drivers, you can use ps2_drivers, which will simplify a lot the Makefile and the initialization process.

Using the filesystem driver, you will make it possible to execute in all the units (USB, MemoryCard, HDD, MXSIO...)