I can't be absolutely certain, but I can't see any reason your Crash Bandicoot would change from 3.1 to 3.2.1 (not sure, since mine came with 3.2.1r2 out of the box).
As for rooting, you won't be able to root that build as it's build number is too high. (it would need to be 8 or lower, I believe).
---------- Post added at 07:29 AM ---------- Previous post was at 07:26 AM ----------
Also, don't rely too heavily on PSXperia. Since it has to be manually patched to support each Crash Bandicoot apk, yours may not be supported and then you won't be able to load any PS1 games through that emulator. You can always use apps like FPSe or PSXDroid, and PSXperia may even work, but don't rely on it too heavily.
~~~~~~Sony Tablet S~~~~~
~~Rooted Android 3.2.1r2~~~
"The command-line: stopping noobs dead since...forever" (CS351, 2011)
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