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I'm getting the same error message. I'm using an image called "Ace Combat 3 - Electrosphere (J) (v1.1) (Disc 1) [SLPS-02020].bin.ecm". I tried this file and the .cue file, also by changing the extension of the image to .bin or .ecm.
I can't say for sure what is in the SPB but thanks to jPSXdec I actually saw a lot of videos outside of both the BPB and SPB and even a few select TIM files.
I wish I could include proper TIMs from U.S. version but we don't have access to that version's files. I took a screenshot of it, I don't know if it'll help but it's all I can do: http://tinyurl.com/nbj65qsI've found a less blurry screenshot, so don't worry.
I uploaded them here: http://tinyurl.com/jvoaldw