it depends....if you just want no-frills gaming with good speed and sound, then VGS will do the job (albeit with a little patching to be done beforehand) now if you don't want any pixellation, you can go for epsxe, but you must have a comp with good specs to play it decently, and you must have a playstation bios image too.
I've been using epsxe to play FF9 for a few months now and just finished a couple days ago. During the game I tried different SPU plugin and the best was Null2's plugin and Iori's SPU. The internal plugin works well but during the battle music it gets didtorted. If you need any help emial me at [email protected]
With Iori's SPU you just check or uncheck boxes to get the effects that you want. I have found that the default number settings, 8 & 48 are the best. One important thing, if you check the box marked SPU IRQ hack in the plugin configuration, then you must uncheck SPU IRQ Hack in the ePSXe sound box (the one w/the window that shows which SPU you are currently using).
Two other excellent SPUs to consider are Pete's Direct Sound SPU vers 1.10 and the internal SPU that comes w/ePSXe. Pete's is the better of these and, IMHO, alsmost rivials Iori's.