Totally anecdotal on my part, but I didn't actually realize at first that popstarter (on ps2) was an emulator so I played through Armored Core with it. While the game ran without noticeable glitches there was major slowdown in some sections. Armored Core final level was so much more brutal as a result, though I somehow managed to beat it. I then played that section with Duckstation and realized how poorly it was running on my ps2, so I compared with disc versions and running off the disc Armored Core ran much better on ps2 as well.
Long story short, just because the game boots and seems to run okay with popstarter may not mean it's running well, and I guess you just won't know if it's running correctly unless you also try the disc. So I've moved onto burning discs and playing ps1 games that way for now (thanks to mechapwn). I haven't thought too much about laser wear, as I think it's not super difficult to replace the ps2 laser if and when it burns out...