So I have the same problem running Soul Reaver on ePSXe 1.4. The version of the game is NTSC/US. I'm using the following plugins:
Video: Pete OpenGL 1.51
full screen 800X600
R8 G8 B8 A8
Use Frame Limit - 60fps
off screen drawing - enhanced
alpha multipass, advanced blending
Sound: ePSXe SPU core with all properties enabled
CD-Rom : ISO, 'couse I can't configure any cd plugin to work
properly on my Acer 32X
BIOS : now i'm using 7502, i've tried 1001 - the same problem.
SIO always enabled.
Celeron [email protected]
196 Mb Ram PC133
Abit Siluro GeForce2MX - 32Mb Detonator 12.40 FSAA 2X
Creative SB PCI 128 - 4 channel
IBM DTLA 307030 30Gb
When it crashes there a strange almost unreadable error message
"Trying to 8 bit ..."(... i can't decrypt
the following words) it is visible with Pete Soft, i'll try to post a screen shot later.