If your PS1 is having issues, check the below general troubleshooting information for help.
PSOne No Video
If you do not receive any video output from your PSOne, try replacing C550 and C551. They are 220uF 4V capacitors near the AV out port and should be replaced with 220uF capacitors with a higher voltage rating. Tantalum capacitors can also be used as mentioned by Voultar.
PSOne Won't Detect PS1 Discs
Replace C705.