It's not a question of which one has better graphics, but a question of which one will run playably. Meaning GC emulation runs at less than 10fps. If that's playable for you, then feel free to give it a try. PS2 emulation is actually playable, and at full speed for some games, if you have the right hardware. Check out
PCSX2 for more info. Specifically, check their compatability listing, as that game is probably in there. You'll need some pretty good hardware (CPU, graphics card, ect.) to run PCSX2 at its fullest though.
As for DC emulation, that one might be your best bet right now. I'm not familiar with the Resident Evil games, so I don't have much to say about it. However, currently, the Dreamcast is one of the better emulated "current gen" consoles, though PCSX2 is probably better in quite a few ways... It just might not be as playable as Chankast is, for many games.
To rap all that up, I suggest you try it out on Chankast, but definatly look into PCSX2, as that might be a feasible option for you. Hope that helps. Mouser X over and out.