How "new" is your PS2?
If it's a recent model, then it might still work with the mod chip installed.
In the newer models (mine I got just around Christmass), you can disable the mod chip by tapping the reset button 3 times. Of course you'll have to have a NA regioned, or non-backup game to play.
I bought my PS2 about a year after they came out, so like November 2001.
When I put the adapter in and tried to configure it, it gave some error and told to call the Customer Srvice number, when I called it said that I get that error because the PS2 had been altered in some way.