Much like the worthless subchannel data obtained by Redump .
At Lefty: I don't know where you can find more FMT games but, RD can be safely ignored 99% of the time if all you want to do is play a game.
Rawdump is a sister project to Redump that incorporates the subchannel data into the image itself, to everyone who just wants to pirate it it means nothing but to those who are into disc preservation it means alot.
Redump is for playing / Rawdump is for archiving.
THE BEST METHOD to run PSX games (and everything else for that matter) is via Retroarch - http://buildbot.libretro.com/nightly/
If you have any questions on how to set it up on Windows please feel free to ask, its very easy.