Crashes shortly after a few minutes of gameplay after killing the first set of enemies. Crashed to PSClassic menu with an error message.

Disable SMC Checks in the options (press Select and Triangle to access, should be under the speed hacks option), then Save Global Config and restart the game. Then make a save state. As long as you load from the save state each time you play it should be fine.

Game runs at 30 FPS and supports enhanced resolution without any problems. Settings for optimal play found below