Yep 1.9.5.4327 its great just came out yesterday 7/31

1. I heard for PSX 1 should burn in lower speed, do you usually go 2X, 4X or maximum for PSOne?

2. Read info on log...

9:18:43 Processor info: Pentium III (0.18 um) With 256 KB On-Die L2 Cache (863MHz)
19:18:43 Memory Available to Windows: 261,424 KB
19:18:43 Not enough Memory! Adjust memory buffer size to 32 MB.

How?

19:18:43 Image file loading: i:\ark.cue
19:18:43 Source Info: Session: 1, Track: 1, Length: 117.8 MB / 013:24:12
19:18:44 (J: PLEXTOR DVDR PX-708A(1:1): Recording Method/Speed
19:18:44 Recording - DAO / SAO - 40X (6000 KB/Sec)
19:18:44 (J: PLEXTOR DVDR PX-708A(1:1): BURN-Free activated
19:19:51 Image file loading completed!
19:20:07 (J: PLEXTOR DVDR PX-708A(1:1): Recording completed successfully!
19:20:07 Elapsed Time: 00:01:23, Average speed: 12.0X
19:20:10 All recording procedures have been completed!
19:20:10 Elapsed Time: 00:01:24

Depends on your writer, media and mod chip. You're best on finding the combination of speed and media that works best for you.

Have a look in the Recording Options in Alcohol's Options for Memory Buffer Size.

How did you create the image ? posting a full system report will give us more information to work with.

@flakeup
Just for the record, running 2000 or XP with less than 512MB of RAM is a bad idea. 256MB will run it, but not very well. That's probably your biggest problem, not with Alcohol itself. Though good luck finding SDRAM for your computer as it's not very widely available anymore.

Yes, you will get many answers to that question. I personally read and write my PSX1 CDs and PSX2 DVDs at max speed and have never had a problem. I use a good brand of blank media and make sure that I keep the CPU usage low while doing it though. But other people like to slow the process down. Find what works best for you is the best answer. If you have the time and do not mind the slower speeds then by all means, slow it down. You will take less of a chance of an error that way. I know my rig and it works at high speed with no problem. Only you know you rig and know its limitations.....