I've read of instances of this very issue on many other threads, but still cannot seem to get my Digimon World 3 copy to work. I'm running 5.00 M33-4 and Popsloader.. 4 or something of the like (I'm fairly certain it's the most updated version).
I acquired a bundle of my favorite Digimon PSX games and found that World 1 and 2 are without a flaw. World 3 yields errors and freezes in the most excruciatingly bothersome times (most of which occur between screens, exempli gratia en transit between Asuka Inn and the door to the next screen, during the loading portions and utter blackness ensues).
It originally was created with the Game/Save ID as SLUS01436 and I altered the Game ID to SLPS01724. This resulted in blackness right after the booting-up Sony logo appeared.
I tried another EBOOT download, but found the same results.
I tried to extract the PBP to an ISO, hoping the compression was faulty (and upon reconversion to PBP selected no particular compression type), and found myself with a "DATA IS CORRUPTED" EBOOT. (I hadn't truly expected that to work since a faulty ISO would result in a similar PBP.)
I suppose the only true method left for me would be to download an ISO, convert it, and attempt to reiterate the whole bit. But I have my doubts, and, given the time spent on the project so far, I'd not enjoy pursuing methods unlikely to yield the result for which I look.