PSX games just use imgburn or any other CD burner using default setting (except burn speed)
Never did like Alcohol Burning rom but I believe it did have set setting for PSX games
As a general rule set the burn to use x1 speed (not that many burners can burn at that low a speed nowerdays but it will ensure it burns at the lowest possible speed for the burning hardware/CD's used and ensure a higher quality burn)
Another note is that there are some games for the PSX that have copy protection in them that prevent this booting method and some mod chips aswell from running certain games
If you detail some games I could maybe dig out copy protect info on those and see if they have protection or not, most games are patchable though
Bin+cue tends to be the standard unless you get an ecm then the ecm is also a form of compression but after thats extracted you should still end up with a bin+cue
burning should always be directed at a cue file not direct to the bin file
With more info I could possibly be of more help