SNK: I'd recommend just getting the move and a gun attachment and Time Crisis Razing Storm, it has TC4 in it as well. plus, everything on the system that isn't TC4 works with the Move instead of the Guncon 3. Personally, I use the official Sharpshooter.
I never knew about plugging the Guncon into the component cable, but it would be a PITA anyway. I got the adapter, and it works great, but boy is Time Crisis 1 PSX ugly! I think that's why I mostly played Crisis Zone instead.