that happen to me also. not a valid ps2 disc? i figure it is my cd loader and i may want to download another one just in case. i did it correctly and i read it to just to make sure
8X media is not always bad.... the problem is usually people burning them with the wrong hardware. Everyone has 2X-4X hardware trying to run 8X software and wondering what is going wrong. However there is some truth in that 8X media is more commonly harder for most PS2s to read. 4X media is less of a risk oddly enough. Getting that red screen of death probably means you are booting the game wrong though.
if it was a bad burn or b/c it was a bad media, it will come up either with a black screen or a frozen screen right after the insert disc from dvdloader. I think he after he swap for the disc, he press eject. I did that and got that message teh first time i use the swap disc.