I had the same problem but found that deleting a load of stuff off my HD did the trick. Don't know how much space you need, but it says on the back of the game case that you need 8GB of memory to play the multiplayer. I have a feeling that you need somewhere near this amount of memory to install disc 2 and to play the actual game, as it worked fine once I made this much space on my HD.
Hope this helps! I know I was distraught when I loaded up the game and it didn't work!
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