Hey guys, just thought I'd share this here. Someone named Coldbird started a project to revive the dead .hack// MMO Fragment a few years ago, and he's finally made a breakthrough with it recently.
He has tools to set it up on both PS2 and PC. You can play offline or make a character online, and you can also host your own server. It's a little rough around the edges atm and it's a bit hard to setup, but once you get in game it's worth it just for the sake of playing .hack// with friends. Even if you can't get it working, he's going to continue working on it from what I can tell so maybe it's worth bookmarking for future reference. :)
Here are the tutorials you need to get it working:
Network Profile Setup
Optional - Server Setup
edit: There are some server problems today but they should be fixed before long. Also, he seems to want translators for the project, so if interested, please help out!