I tried to get this to work in psX and epsxe, but in both emulators, the game was running at an insane speed, regardless of FPS limiting options.
completed the game with RUN-GO on Normal (3/5) difficulty using 5 continues (1P GAME).
RUN-GO is great. My strategy was: hit enemies in the face with square until they were almost out of range, then club them with triangle.
The solution to the emulation problems was as always: use mednafen. I had some trouble finding a good rip with .cue and .bin files, but once I had that, the emulator works perfectly.