Hamsterburt has posted some WIP news on the state of his emulators for the PSP, heres what he posted:
Dispite being very busy this week, I have found a few hours to do some more psp coding. Here is what I have been working on:
PSPFceultra: I've added options to load custom palletes, cheats, and FDS images. I am still working on adding nes movie playback, and improving the sound and I might have a version with adhoc support before too long.
PSPadrive: I've made a start rewriting the graphics rendering code to use the psp hardware to render the background tiles. This should give a decent speedup aslong as I can get it working better.
Unnamed new gameboy emulator port: This is progressing quite nicely. I am writing a new gui lib for use in my other ports using this emulator as testbed. It will be interesting (for me at least) to see how it turns out.