or if you have a fast video card, use what ever settings for it you want, the default settings for the eternal SPU and in options (On ePSXe, not ePsxecutor) force PAL.
I have a gefoece 2 gts, so my resolution is 1280*1024 32 bit with nice settings plus Frambuffer effects turned on (not FVP)
I also have a SB live so the default settings for the eternal SPU work nicely
everything is 100% smooth.