Personally I think it is the best part of the series. Well, 2.0 isn't bad either. Then some weird things started to happening - I bet they tried to change their target customer group and IMHO at that point the series actually lost its original spirit.
And it's a bit of a shame the game doesn't support any of good settings. Oddly enough, 800x600 is the highest the menu allows you to go.
Firstly I thought the ePSXe emulator could be an alternative to this, but no. It's flushed out of details and framerate is also quite low.
These are two snapshots I found:
(PC - 800x600)
(PSX version, 1280x960 downsized to 800x600, maxed out ePSXe settings, lots of video card enhancements applied, including AA)
So uhm... no. We rather need some smart ass to come up with a solution :).