PAL is a 50hz system, so you should use that.

SCART was a Euro connection that didn't make a appearance elsewhere [except on old FOX boxes], but my understanding is that it doesn't do progressive signals, where component definitely would, so I think as you best output from the PS2 is component, I'd get a component to HDMI adaptor for better visuals.
The one thing SCART has though, is Audio through the same cable, where with component you need to run a separate cable from the PS2 to the TV, and with your TV it takes a digital audio cable.

As for PULSE's loading times, sounds like they are just as bad as Wipeout Fusion on the PS2.
From those who bought the PS2 disc version of Pulse apparently it's not very good....I don't have it, I have PURE & PULSE plus all the DLC for those games loaded onto a PSTV, and have a PS4 controller to race with....if you want to see how good those two games are on a modern TV, get a PSTV [they are selling them cheap, grab one while they are still available]....one HDMI cable from it and you are racing.....if you can get a secondhand PAL version of WO 2048 on disc, apparently there is a hack you can do to the PSTV that allows you to play it like Pure & Pulse....it doesn't work on the download version from the store though [I know I've tried ]