I've noticed that most crashing that occurs on OoT is because at times the Camera may shift too fast and therefore the emulator can't keep up, also certain places when graphical changes occur (such as going through the underground cave and turning the corner where it's pitch black than changes to show the next room), also the length of how long you play seems to effect it as well.

Now there aren't as many BSOD's but it does hang with the songs still playing so you have no choice but turn the model off.

Does this help any?

You can press and hold L + R + START for ~2 seconds to reset the PSP
Try to set texture update to 4 instead of every frame and see if it help for the graphical changes

It's been that way from the start.

but that's a good tip I never heard of, thanks.