Hey, welcome to the hub.
I believe you can burn bleem disks for metal gear solid, gran tourismo and tekken 3 now, which you couldn't do before (I think we have those for d/l actually)
There's also a beta disk that can run lots of ps1 games, but barely any perfectly.
Ps2 games would never work sadly. Even if the dreamcast could handle the emulation, there just wouldn't be enough buttons on the controller.