Décidement ca defile. Launchelf passe donc en version 3.51.
Apparement l'incompatibilité avec Hdloader depuis la version 3.46 semble avoir été reparé dans la version 3.50
LaunchELF v3.51 (2006.03.03)
-Added experimental support for HDD on 'slim PStwo' models, released as separate ELFs in the same release ZIP. Developers should be aware that this patch adds a new module to PS2SDK, named "*****d_slim_PStwo.irx" and serving the same purpose for those models that "*****d.irx" does for traditional PS2 models. Thanks go to 'lonwern' at PS2-Scene for pointing out the precise function in the source code that needed patching.
LaunchELF v3.50 (2006.03.01)
-Modified the ELF loader so it can reside at the same address used in LaunchELF versions earlier than v3.46, and still retain compatibility with current version of PS2Link. This eliminates the incompatibility that v3.46-v3.49 had with some unpacker stubs, and thus with all programs using those stubs, (notably myPS2). Full compatibility is now restored for those programs.
http://www.ps2-scene.org/forums/showthread.php?t=37242