Very nice and simple tutorial, I would like to add a comment in case someone stumbles on the following.
On the 2.0.5 version of ePSXe with newer hardware it's a known problem that in some games (namely FF IX to cite an example), the game will run normally but the audio will be too fast. In that case the only thing to do is to use the 1.9.0 version which isn't affected by this issue and has most of the perks on 2.0.5 (sadly no game list).
I mainly use ePSXe for its compatibility with PBP files, which not only saves a lot of space but can merge a multi disc game into a single file. If you want to try this, just look for the psx2psp tool.