sounds like a bad disc, the plugins and settings you use would be irrelevant if that is the case here. do you have any means of testing it on a real psx?
edit- nm i remember you saying your psx doesnt work. if any of your friends or whatever have one though you should try it out on theirs because you might be looking at having to buy a new copy of the game from somewhere. if the disc appears to be in good condition (no scratches, tire marks, bullet holes, etc) then try cleaning it.