With your PC, do not expect full frame-rates for FF7. (it WILL run, but only about 40~58fps)
Besides, you will experience sluggish gameplay performance on certain areas.
I suggest Pete's OGL 1.75, Eternal 1.4.1 and using a CD-ROM drive. (I suspect you have a slower hard-disk.)
With Pete's OGL 1.75, set to:
Plugin: Pete's OpenGL Driver 1.1.75
Author: Pete Bernert
Resolution/Color:
- 640x480 Fullscreen - NO desktop changing [16 Bit]
- Keep psx aspect ratio: off
Textures:
- B8G8R8A8 <---- Set this lower by one notch
- Filtering: 0
- Hi-Res textures: 0
- VRam size: 0 MBytes
Framerate:
- FPS limitation: on
- Frame skipping: off
- FPS limit: 60
Compatibility:
- Offscreen drawing: 2
- Framebuffer texture: 0
- Framebuffer access: 2
- Alpha multipass: on
- Mask bit: off
- Advanced blending: on
Misc:
- Scanlines: off
- Line mode: off
- Unfiltered FB: off
- 15 bit FB: off
- Dithering: off
- Screen smoothing: off
- Screen cushion: off
- Game fixes: off [00000000] <---On Fixes for FF7
For Eternal,
Use SPUasync, Smooth with a buffer of 64.
For CD-ROM,
I recommand SaPu's CDR plugin.
SaPu's CD-ROM Plugin 1.0
Drive Properties:
- Drive Selection: Autodetect...
- Interface Type: Autodetect...
- Read Mode: Autodetect...
Performance Settings:
- Caching Level: 3 - Enabled, prefetch with async reads
- Cache Size: 32 - Large
- Track ISO9660 File System: on