Wipeout worked fine with my PSX port addaptor.
Wipeout supports CD32 joypad.
The software that came with your PSXPort allows you to use your psx controller with any game that supports cd32 joypads.
I know its not analouge support but it still allows you to use it in wipeout, gloom deluxe many others etc.
As for the Mpegs.
CGFX V4 / Latest Warp 3D / WarpOS sorted out my problems.
There are some updates on the CD is you are using old versions.