I'm a few steps further (now that my docking station is working again, cough). If I play HuCards for a while it will warm the system up, so that when I put the system card in and press "play" on the CD player, it only takes 3-4 mins for the CD to start spinning and actually playing the audio through my TV. That's admittedly pretty cool.
I press stop on the CD player and press "run" on the controller. This makes the CD player say "PC" instead of the track number of the CD and go back to spinning. However, it's still stuck at the "just a moment" when this happens. Stupid system screen.
Could be the system card, but I should probably try with a real game first. So I'll get a game on ebay...like, are there any games that can play on a system card 2.0? I'm looking at the list on Wikipedia and it looks like Fighting Street is the only notable game that doesn't require a super system card...