There is a tried and true method for hacking Windows executables. Use Cheat Engine to find dyanmic memory addresses, find what accesses/writes to that address and then find that instruction in IDA Pro to use their pseudocode.
This method doesn't really work with PS1 games as well as N64/PS2 or any game system that uses a MIPS instruction set.
IDA Pro has no trouble disassembling a PS1 Executable, but the problem lies in the fact that Cheat Engine uses x86 instructions instead of MIPS.
I've tried to use the built-in debuggers for Bizhawk and pSX but neither of them, to my knowledge at least, have "Find out what writes/accesses this address". This makes it super hard to find out which function to analyze in IDA.
So I'm wondering if anyone has any experience with reverse engineering PS1 games and how to identify functions.