For fully 2-D games, use software rendering.
Otherwise, yes, the OpenGL 2 plug-in will work good for the rest. You may, of course, have to switch the configuration up a bit depending on the game.
You can also look into trying the gsDX plug-in from PCSX2. It apparently works in ePSXe, but I have yet to try it, so I can't speak for that yet.