Alright, having gotten the plat, I can definitely say that the PS1 version is the superior version of the game.
Pros
Updated models for characters and enemies.
Cons
Delayed/Lingering sound effects, sudden battle transitions, and menu lag. I was fighting the final boss and after a certain phase, the music is supposed to fade out and go into the last phase and here it just snapped to the final bit by suddenly cutting the music. Another one is, the death sound effects for certain monsters(Ultima Weapon) linger and play during the victory animation.
Botched music at times, already discussed the midi nonsense.
Movement isn't as good as the PS1 version, I sometimes have to struggle to get Squall moving in a certain direction.