When did you get PSO ver. 2, and have you ever played it online before? I have Dreamcast but not PSO. I'll consider getting it if enough people get together, but sorry to announce that I too don't know how to use it online... but I'll look into it.
What I did just run into searching the web was some stuff about Phantasy Star 0. It's a new Phantasy Star coming out for the DS at the end of the year, and it looks pretty cool. It doesn't seem like an MMO, but says that it can be played single or by four people, through wi-fi or direct connection... which i would actually prefer. So, I thought that was pretty neat.
Another consideration would be to see if there is a PSO PC version, which I think there is. I don't know how that works either, but then I was wondering if there is a website, something like World of Warcraft, and ran into this:
http://schtserv.com/
1) Check out that link, you may like it, if you haven't heard of it already. It's a private server for anyone to get together who has PSO on most systems. There's instructions how to use it and it's pretty self-explanatory. It seems like you just have to go to the "connect" tab first and click on what system you will be using to enter their server with, in your case it would be the Dreamcast. Then they give you further instructions and a list of codes that you have to add to the current connect codes... but it doesn't say where to enter them... in the DC maybe?
2) There's also a file that you have to download in the "download" tab of the website as well. You'll see it, it's one file for Dreamcast users that you'll need, to get on their server. Don't forget to SCAN for viruses after down loading!!!
3) and then there's a "register" tab where I guess you have to register to start playing. And there's also a forum in case you have any questions... so yea, check it out and maybe it will work. Then you can start playing PSO online with all kinds of peeps from all over. It looks pretty ligit. Good luck and let me know how it goes.