Hacking Taking PS1 Game Saves Applying Cheats and Porting to PS3

[Seritho]

So, bit of an involved project here. Finally figured out how to take different formats of save files and turn them into PSVs that my PS3, which is backward compatible, can read. Now I am trying to take a file created on my PS3(a PS1 save), put it on my computer, load it in an emulator, applying some cheats(tweeks to things like inventory and stuff) and then saving it, putting it back on my PS3 and playing with the original CD game with the cheats being still intact. Does anyone know if this is possible and if so what emulator will run that PSV or do I need to convert it first to some other file type? Thoughts, suggestions and guidance all welcome!