Ok... so apparently, I really don't know how to increase the frame rate. The game seems like it can run well in most cases but some effects make the frame rates go down below to 10-30 fps. In other cases, it goes to 40-55 fps... is there a way I can keep it to 60 fps?

My computer has:

Intel Core Duo 2 T7700 - 2.40 GHz
1.98 GB DDR2 RAM
NVIDIA GeForce 8600M GT 512 MB
250 GB 7200 rpm Hard Drive (Laptop...yes.)

I know it has 2.4 GHz, but I think my comp has potential... think I'll be able to handle it with 60 fps as normal NTSC does?

Depending on the game even a 4 GHz C2D can't provide fluid 60 fps.
So, what game are you trying to play? There are quite a few that need a better CPU and GPU than you have to get 60 fps.

Oh right, sorry about not putting in what I am playing atm...

I was trying to play Persona 3 FES and Persona 4.... but apparently, they talk really slow and the intro video skipped due to the low fram rate atm.

Persona 4 is needs at least 3 GHz to run at 60 fps in most areas. Some fights and scenes will still be slow.
Persona 3 is similar in this matter, so I fear you can't do much about it.

Have you tried enabling VU Denormals Are Zero and Flush To Zero? It can speed up both games quite a bit, but it is a hack ( that means it effects correct emulation ).

I dont think I've heard of those.... do you know where I can find them?

Try the Playground version of PCSX2

animation video works finely now by playing on Playground... but the game play of moving characters has gotten slower... is there a way to increase the speed as you said? I did enable VU Denormals and the other thing though

Did you even tried speedhacks?

I didnt really touch that because I am not quite sure which does which, and I kind of dont want to crash anything either.

Especially as the frame rate making one of the character look like she's bald >_>;;

Actually, x2 cycle rate rarely broke anything.