I got King Kong to work, this is what I did:
Made an image with alc Used the "SF123 profile" and "set DPM to high", measure speed at 8x.
Then Shutdown and disconnect all the drives (CD-DVD).
Open SFNightmare and "disable node"
Then mount with D4 and enable all emulation features.
Play the game
Note: sometimes these techniques may very due to different configurations (hardware+software). Best of luck