For anyone who's interested, I tried compiling the current CVS version of fs2_open on my PS2Linux kit. After adding some PS2 specific libraries to the library include list I got it to compile. When run it seg faults after SDL, apparently, complains that it can't retrieve the OpenGL functions. It fails in SDL_GL_SwapBuffers().
Size of bitmap info = 1121 KB
Size of bitmap extra info = 8 bytes
WARNING: "Cannot chdir to /home/hunter/games/freespace2: No such file or directory" at windows_stub/stubs.cpp:103
Building file index...
Found 5 roots and 6872 files.
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DEBUG SPEW: No debug_filter.cfg found, so only general, error, and warning
categories can be shown and no debug_filter.cfg info will be saved.
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Opened fs.log OK
Setting language to English
soundcard =
No video card defined...
GR_CPU: Family 0, MMX=No
Initializing opengl graphics device...
Couldn't set GL mode: Could not retrieve OpenGL functions
Segmentation fault