I use Eternal SPU Plugin 1.41 for the sound and P.E.Op.S. Soft Driver 1.17 for the video and so far i have not had a problem with FF8 (I've gotten to the 3rd disk as of today).
Also, i dont have a graphics card either 'cause i'm poor... i have an Intel Graphics controler (woot), it works fine for anything a PlayStation game can kick out.