The screenshot is showing the last level, fighting Gnasty Gnorc, so I can state the game is fully playable. That games is the cause for the 'Heavy caching' option, so be sure to turn it on. That's normally the best setting for testing new games. Sometimes the sky is flashing blue, but that seems to be a PSE core bug, all GPUs are showing this glitch. Turning on 'Dynamic caching' helps a lot.
Small lines occurr by blending the water textures, anything else looks real good.
Graphics are fine. Speed's OK, notice that nice Crash shadow if you are using Offscreen drawing. Some distant black triangles could appear, but I have noticed that effect with other GPUs, too. Demo is unplayable, because it can't detecting the PSX pad. 30-50 Full speed, all is looking nice.