I still contribute to Yabause, Sega Saturn emulator: http://yabause.org (which would really need a new release...)
I used to work on DeSmuME ( http://desmume.org ) too, but don't have enough free time anymore.
oh, one quick thing. even though there may be roms for most Saturn games, check here to see compatibility with Yabause. http://yabause.org/compatibility-list/
for instance, Sonic R (J/U) is listed as not playable with Yabause 0.9.13
Yabause is a Sega Saturn emulator, so I'm not sure how well discussions on that are received here. In general, it's probably a setting you have to change. Look for help on the project's webpage: http://yabause.org/
Glad I can help
Yaba sanshiro is a port of yabause is multiplatform http://uoyabause.org/static_pages/download
I would say is the only currently updated standalone saturn emulator. I tested it on my Firestick 4k (android) it worked pretty good.
You can test the original yabause but the latest version was from 2014 http://yabause.org
Saturn is hit or miss with the games, if you have problems with a game just test the game in another emulator, basically jumping between yaba and retroarch.
Sadly, SSF and Yabause are your only worthwile options for Saturn emulation. Satourne seems to be defunct as of 2006, and SSF is closed source and not frequently updated. Yabause is open source and still technically under development. You might want to collect as much data about the sound bug with this game in Yabause as you can and file a bug report on the Yabause website.
Don't you need the binary with the .CUE? I think that all the .CUE has is some info about the complete game. If the game is an ISO, or disk image copy, you will need that to run the games. The .CUE file alone is not the game, and is mostly just info about the game's disk image, I believe. Do you have both the complete game and the .CUE? The .CUE is usually a very small file compared to the whole, complete image of the game.
Also, consider that it is corrupt in some way (the data, code, etc. of the game).
Pretty sure they have newer versions as well, but Panzer Dragoon Saga should work on 0.9.10.
looks like you may be in a small ammount of luck.
there is where you can find the source and the PSP download. Looks like the PSP port has the latest build from source.
now, I know you wanted PSP, but here is a japanese emulator that looks like it's still being somewhat actively developed. http://www7a.biglobe.ne.jp/~phantasy/ssf/index.html
english version here : http://evilboris.sonic-cult.net/SSF/index.php?x=download
good luck on your saturn emu quest.