That might be run-ahead instances. I think the setting is found under "latency".
Could set it to zero, I never use it but it is okay with some Nintendo games.
The bios is good, you should keep it. Rarely (Arc the Lad Monster Tournament) do I ever have to use no bios.
If your pi doesn't have any heatsink, airflow, cooling fan, radiator. It will overheat and the SoC/CPU will throttle undermining performance in some games. While it is possible to underclock and increase the soft/temp limit to get adequate performance for PSX, good ventilation is still needed when playing 4+ hours.