I can think of two potential reasons for using a CRT: either it's the only TV you own (and your PC's monitor might not be suitable for gaming for one rason or another), or you want to minimize input lag (which would be a valid concern for Kaizo hacks). If minimizing input lag is the intention, though, then using emulators would kinda defeat the purpose.
An SNES with a flash cart is probably the most expensive option, but it's also the option with the least amount of input lag (there pretty much is none). That being said, some hacks might not work on original hardware, because they contain stuff that isn't supported on the SNES and only works in emulators because of some inaccuracies.
If you don't want to invest into that, I'd say emulators are your second best choice. You could give the SNES Mini a try, and in fact I've heard its emulator is pretty good and has a very low amount of input lag, but note that it was only written to support the few games that are pre-installed on the SNES Mini, so every other game, including hacks, could break in unexpected ways when played on the SNES Mini.
If you do decide to go with an emulator, I recommend against using BSNES/Higan. While it's the most accurate emulator out there, I find it to have the highest amount of input lag. Personally, I find SMW hacks to be almost unplayable in it, but your mileage may vary. Snes9x is probably the most reasonable choice, although I personally do like to use ZSNES because it has the least amount of input lag (at the cost of less accuracy and therefore potentially lower compatibility with newer hacks). I'm not quite sure why you'd want to hook up your PC to your CRT, but if it is indeed for input lag concerns, I'd recommend against doing it, because there isn't really a noticable gain when using them in a setup like this. You really only get a reduced amount of input lag if you hook them up directly to a SNES, so only if you go with a flash cart on an original SNES you will see a benefit from using a CRT.
If input lag isn't a concern to you at all, then anything goes, really. Even BSNES would be a good choice in that case. In fact, it might just be the best one because of BSNES' high accuracy.
--------------------Feel free to visit my website/blog - it's updated rarely, but it looks pretty cool!