You can't POSSIBLY think that PC ff8 is better than PSX FF8 on an emu! First off, all that you just said the PC version has, the PSX version has also when EMULATED on a high-end emulator (like epsxe). The key is that DATA stored on the game. You REALLY think that they drew up all new gfx and sounds for the PC version when they had it all on the psx version? No, they simply snagged it from the psx version and linked it to their PC engine. What does that mean? No better gfx, no better audio, simply an attempt to make it playable on PC.
"PC version has 640x480 res." - Blah, so does the emu. Both are linking to the same texture, you'll notice. However, the emu is not limited to 640x480.