Progress on pspe is slowly but some major steps have been done.
Vertex decoding part of GE unit is now completely done in shaders (well bezier and splines are still missing) using tranform feedback .
That provides more accurate emulation (and probably more speed) since all the other psp emus are using cpu to decode vertexes.
Major drawback though is that you need a opengl 4.2 compatible card to run pspe. This means that you need at least one of the following cards :
Nvidia GeForce 400 series
Nvidia GeForce 500 series
Nvidia GeForce 600 series
ATI Radeon HD 5000 series
AMD Radeon HD 6000 Series
AMD Radeon HD 7000 Series
Of course having a better card isn't an issue
We are now working to add the bezier and splines to the vertex decoder and then we will move to the rest of GE unit features (lighting , dither , fogging ,texturing etc).