hmm none of those suggestions seem to work - I'm using the system card ver 2.1 - is that right?
When I press run and the cd tries to load the screen goes wavey and kind of repeats itself a an inch lower too....
Your problem could be power like the previous poster indicated, but I've personally seen your symptoms as a result of using a dirty System Card.
Yes, a System Card can be just dirty enough to load to the title screen but not properly load the CD game into RAM. When this happens it will produce effects similar to what you've listed.
Get some fine sandpaper or a metal nail file and gently buff the contacts on the System Card so they are really shiny. Use a damp cloth to wipe off any filings and, of course, let the cart dry before trying again. It doesn't hurt to use a little alcohol on the contacts, too, but sometimes alcohol alone isn't enough.