This and every RT battle with have excessively long loading times because it has to access a disc instead of a ROM. Think about how many RTBs you'll have within the game...
I played it on an emulator and I own FF Anthology. Oh, how I wish the PS3 would let you rip game discs to the HDD like the 360 does.
No cigar my friend. I tried playing FFA through my PC by ripping my copy as well (amazing how it went for 20 bucks when i got it lol), and it still takes forever to go the menu. It seems like the lag is hard coded into the game to allow ample time to access the menu. I REALLY wish Square cut the game into chunks of thirds or fourths and let it load into memory on the psx.
I ended up just saying screw it and then playing the snes version despite not being able to see the nice fmv cut scenes and better dialogue (although it is still great..."I'm a general, not some opera floozy!")
[q]VI and VII both look and sound like they did on the PS1 - which is to say, not great. FF8 aged far more gracefully in that area.
[/q]
Once the game is given texture filtering and a high(er) res treatment, it easily looks like a dreamcast quality game to me.