http://consolecopyworld.com/psx/psx_patches_w.shtml

WipeOut 3 Special Edition +3 Trainer & PAL/NTSC Selector
- For the ENGLISH, FRENCH, GERMAN, ITALIAN & SPANISH version!

use ppf-o-matic3

I remember it being very finicky -> i.e. badly ripped ISO will never start, try CCD format or non-audio splitted BIN/CUE

played it for months on real PSX w/ CRT works very well ... on emu IIRC not all of them will run it

you wanted speed, you'll have it as it'll be +20% faster (phantom is just impossible) ... but game is very smooth