No, I am not using any filters, just the default video plugin.
I'm not running 2 emulators at the same time. It's a 2Ghz laptop, so you'd think it shouldn't use all the cycles. Turns out, it just reserves them, in the case of Fusion, I can turn that off, and the emulator uses about 2% CPU then. Now, I'm looking for a similar solution in ePSXe (maybe something along the lines of a command switch in a shortcut).
The reason it bothers me is because my laptop fans go crazy. The laptop (old Dell) has a temp sensor, and when the temperature in the CPU area gets hot, it turns on the fans. For the case when it's really hot, the fans are on highest settings, and are really loud.