1- In Nero, go to 'File' > 'Burn Image...'.
2- Choose the .bin file and open it. A 'Foreign Image Settings' dialog box will pop up. On the 'Type of image', choose 'Data Mode 2' and click OK.
3- In the CD burning dialog box, choose 'Disc-at-Once', check the 'Finalize CD' option and set the write speed as low as possible because PlayStation CD-ROM sucks big time!!!.
If you want to create your own .cue file just open up Notepad and copy/paste the following:
Change the "Image" part to the exact same name of your .bin file.
FILE "Image.BIN" BINARY
TRACK 01 MODE2/2352
INDEX 01 00:00:00
Save the file as .cue.
Make sure the .bin and the .cue file are in the same folder.
You can now load up the .cue file in Nero and skip to the burning dialog box immediatly.
Select the same options as described on step 3 and burn it. B)