Yes.... It will work fine for PS2 backups.....
You can use it for CD based games (Its RAW-DAO 96 compatible & supports correct EFM encoding) Clone CD supports it also...
You can use it for DVD games also.....
NOTE: Make sure you use DVD-R or DVD-RW......
DO NOT USE THE DVD-RAM capability for PS2 games....
You can see all the specs on this drive
HERE!
Enjoy!