I really don't know what to tell you about this, maybe try buying the game accelerator in the item shop when you have enough Viz. Also, are you using chrome, it is pretty fast and it will probably work better than Internet explorer if that is what you are using. That really sucks to have your gaming experience ruined when the plugin crashes, I am really sorry man. I hope you can get this fixed and have it run more smoothly. This really sucks. 

When I'm not on my dads 8GB ram laptop I use my old 1GB, It has very similar specs to yours. So here is what I suggest, It may disappoint you but Nintendo 64 games will put a lot of strain on that spec. I only use it as a single window, so I close the retro game room in the background and all other tabs while playing the N64. I made a document of all the links to the games direct, so you don't have to go through the retro game room.

I'm not sure if that helps you at all but It's all I know from experience.

I think it is possible to rebuild your PC so it it has 7, but I think it is not powerful enough to run 8. If this is possible the USB stick you will get (if you can get one for that model) will remove everything but restore it to the factory settings of the windows you wish to use whether that XP or 7.
I hope that will work. Again I'm not too sure.

Is it only sound lag that you're facing? Not graphics lag or anything of the sort? If it was graphics lag, then it would probably be because your RAM is very low. I'm not very computer technical, but when I had my desktop, my RAM was about the same as yours. I would often wonder why my games would crash or lag, and several of my online friends had mentioned that my RAM couldn't support it. I've heard that at least 8 GB of RAM is required for a good gaming computer.

Razor-987 :

Sorry to bother you, but I just want to mention that the game accelerator only affects the download speed of games, not how they run on the emulators.

I'm sorry for the trouble but it sounds to me that your specs based on what you have put here are too low to run PSone games and N64 games at a reasonable playability level. Surprisingly, both of those require a reasonably fast processor as well as a decent video card to run without lag. The ram helps, but is not as important as your video card and CPU for emulation.

There really isn't a lot you can do to get around that fact. If you notice, even playing offline with a downloaded emulator will cause you the same issues. I have heard that the rice video plugin does help a lot of people to play the games more smoothly, but I think that in your case, this difference might be negligible.

Razor-987 : I have a newer desktop that has been hijacked by my family. If I get real desperate I can just lay down the law. Honestly, It's probably time for a new laptop.

MechaMento : I'll try the single window thing. Thanks for the tip. If that doesn't work I think i'm just gonna put up with this laptop until I can afford something better. I know it's not exactly what you meant but I did try using a USB flash drive and Windows Ready Boost to increase my RAM but it didn't change anything. 

Mistress : The next computer I buy is gonna be heavily researched. I want something specifically geared towards games. I think you're right about the RAM though. That's where the problem seems to lie or maybe the graphics card. (I really hate that it's part of the motherboard on laptops!)

Jordanv78 : I'll look into the Rice emulator but I think that you are right, the difference might be negligible

Since it's been agreed that the problem is due to outdated hardware, there isn't really much you can do besides upgrading, I'm going to go ahead and close this thread so you don't get 100 replies saying basically the same thing.

I'm sorry for any inconvenience this is causing. If you have further questions regarding this, feel free to PM me directly.