Anybody else here know of a neat little thing called Virtual Game Station? VGS was a PlayStation emulator for Mac OS 8 and 9, made by Connectix (yes, the same people behind RAM Doubler made this too!) As far as I know, emulation's really good with the few games I've tried so far, the only bugs I could find are some sound bugs in Metal Gear Solid. Here's a shot of it running one of the best PlayStation games ever made, Klonoa: Door to Phantomile, under native Mac OS 9.2 on my Snow iMac G3.
And if you're wondering where to get Virtual Game Station: http://macintoshgarden.org/apps/connectix-virtual-game-station