PacManFan posted at PS2Dev this tidbit of news concerning his Playstation Emulator for the PSP:
At this point, I don't really have anything else to show, however, I want people to know that I haven't given up. I've been working on PSPSOne yesterday and today, and I've made some real progress. I'm on my 3rd attempt at writing a recompiler, and I think the 3rd time is the charm. I've given up on the idea of being able to "filter" out the addressing scheme, and now I'm taken a more traditional approach to writing this recompiler.
I've got the recompiler executing the bios at this point, and I'm tracking down some issues with my branch and COP functions. I think I'll have something to show soon.