Ive had this issue on 3 PS1 games Ive tried. The game open and run great, I can save them, and if there is an option to exit to the main menu I can reopen the game saves, but if I exit the game completley or restart my PSP and try to play the game again, I cannot reopen that game save, it shows NO saved at all. When I go to the saved game utility though, the game save is listed there(as HotShots Golf 2 of course).
Any help on how to open my PS1 game saves? Thanks.

Hm it's possible the eboots are bad but what is more likely is that your memory stick either has a problem or just needs to be formated. So try formating your memory stick.