Dang, beaten to it, lol....
Aye like blackshadow says, game won't even boot, usb2 mod or not (as I expected) - I can see your logic in thinking the earlier releases will more likely work, unfortunately it doesn't work like that, particularly in the case of emulation on a machine such as the PS1..... shame, as my mum loves Destruction Derby and only has a Wii & a grotty old PC that near-blows up when it tries to run ePSXe hehe...
Anyway, the problem clearly isn't due to your dumping method apoptygma...