I'm having a problem, too, and as usual I'm clueless about it. I seem to be having some trouble playing this on my PSP.
I ripped the game from my own personal copy (using ImgBurn), and applied the patch with no trouble. When I try running the game using the ePSXe emulator, everything works fine. The problem is when I try to convert the game to an eboot. When I try using PopStation GUI v3.00 and run the eboot on my PSP, I simply get a black screen. Nothing happens. When I tried using v2.21, my PSP says "The game could not be started. (CA000005)". I have tried compression levels 3 and 4, if that matters. I have never had this sort of issue before...what could be the problem? This usually works!
If I remember correctly CA000005 means your missing the keys.bin file in the eboot folder ... but its been along time, try using psx2psp 1.4.2 to make it, it will need the keys.bin and base.pbp to run but I never have any problems with it...
(cept for threads of fate of course)