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Well, I read the threa at the top first and i know with my system mgs2 should be playable, but it's not... I just don't know why. It's very slow.

Specs :
CPU: phenom II quad core @2.8 ghz
Gpu: Ati 5570 1gb dedicated gddr 3
Ram: 6 gigs of ddr2 ram
Peripherals: ps3 controller

The cutscenes are fine, but te game it self is super laggy, well slow motion. Id say I'm getting 20fps.

I have the latest driver updates, I'm using pscx2 v1.0 and using sse2, with dx11. What's my problem?

2.8 Ghz may not be enough for this very demanding game.
try to use some speedhacks, maybe setting skipdraw to 1 or 2 may help a bit

Ok will do. Ill come back if there are any further difficulties.

Well, its gotten somewhat better(but I dont think ill continue playing with this amount of frames). I wonder though... Will this be the problem with lets say... kingdom hearts 2 as well?

KH2 is known to be quite demanding too, but AFAIK, not as much as MGS2

KH2 is nowhere near as demanding as MGS2, your PC should play it fine.
Also a note for future inquiries: Playability is NOT measured in game speed, since that is widely PC dependent. A playable game means it is compatible with PCSX2, regardless of speed.