v3
After consideration and review I've concluded that, while the USA PlayStation CD audio is corrupted, I believe the Japanese or European PSX release (both of these seem to share the same audio files) are a cleaner source than the IBM PC version I have been using to source the arcade audio. It seems I was a bit hasty in steering clear of the PSX releases altogether after discovering the corrupted audio in the USA release.
In short, I have switched to using the Japanese PSX release for the source of the arcade audio.
The difference is probably not huge, but if you want to compare audio quality with the PC release version you should still be able to download version 2.1 if you want to.
This will most likely be the last update.