Use Pete's OGL 1.49 : Fast setting, then : offscreen drawing 2-standard, r5g5b5, no filtering, limit fps: 60, no frameskipping, check alpha blending, check multipass... Try check VRAM too, but in my experienced it slowed the game very much. I prefer fast than beautiful....
Use Pete's SPU 1.7: I forgot the settings, I'll check it out when I arrives at home.
Use Pete's CDR: try to detect your CDR, then choose the recommend, check the first option (i forgot).
I'm using PII/400, Elsa Gladiac GTS 2, Creative CD Rom 48X. And Chrono Chross runs smoothly at around 50-60 fps. When enter the battle sometimes it down to around 30 fps( just like FF). I think it's because I always run from the CD, not from ISO. I rarely using ISO because it eat up my HD space. But I think it's very good (awesome in my word) for emulator to play like this.... Two thumbs up for ePSXe teams!!!! Bravo man..... Keep up a good work... Sorry, I'm over the limit