Your system specs are really the problem, you need a faster CPU.
but here are some proper settings
Configure the GPU
use Pete's D3D 1.56 (I don't know what type of graphic card you have soo I'll just assume the worse...an ATI Rage)
Set game fixs to PC_FPS calculation
turn ON Frame Skip
Configure the SPU
at the epsxe sound config screen:
Disable CDDA sound
Disable SPU IRQ Hack
Enable everything else
now configure Pete's Dsound 1.14 and set it to:
1: High compatibility mode
Enable SPU IRQ - wait for CPU action
Configure CD-ROM
Disable Accurate CD-Rom timing
Disable CD-rom Status
but here are some proper settings
Configure the GPU
use Pete's D3D 1.56 (I don't know what type of graphic card you have soo I'll just assume the worse...an ATI Rage)
Set game fixs to PC_FPS calculation
turn ON Frame Skip
Configure the SPU
at the epsxe sound config screen:
Disable CDDA sound
Disable SPU IRQ Hack
Enable everything else
now configure Pete's Dsound 1.14 and set it to:
1: High compatibility mode
Enable SPU IRQ - wait for CPU action
Configure CD-ROM
Disable Accurate CD-Rom timing
Disable CD-rom Status