SotC is a system killer to emulate. It requires a processor in the 4ghz+ range to run with minimal speed hacks... You may get more playable playing with the VU cycle steal hacks, but they will cause bad internal frame skipping in the game.
Thank you both for the speedy reply. I'm glad that this game is an exception, this was the only game I tried and I was immediately discouraged.
Even with my i7 930 @ 4.0Ghz and a GTX 480 (It's almost one of the best setup you can get right now (for everyday use) for emulating PS2) and I only get 40fps average without any speedhacks. I have to set VU cycle stealing to 1 to get above 60fps. This should explain a lot.
CPU: i7 930 @ 2.8GHz(Everyday)/3.6GHz(Gaming)/4.0GHz(Encoding)
GPU: Geforce GTX 480 @ 850MHz/1001MHz
Motherboard: ASUS P6X58D-E
RAM: 2x3 6GB OCZ @ 1527MHz 8-8-8-24