PSMonkey has posted news of an update of his work on the Nintendo 64 emulator for the PSP:
I NOW FINALY (took long enough) have 3d somewhat working on the emulator. Automobile lambergini is now showing 3d elements. This lovely flag is all done in 3d (the two squares behind it are 2d logo & press start text). Yes textures are off and the flag looks funny but that is due to bugs in the 3d (need to add more to the rdp to clear the psp's z-buffer).
Once I can clean up more code and fix a few things, I will post some more screenshots. Hopefuly with a good push over the weekend I will have a brand new build up early next week. So lets all enjoy and wait for more screenshots to flow in over the weekend till we all get to play this next week