Hooray, they finally cracked the 1.5 firmware and my PSP mem stick is chocked full of emulators and roms. NES emulation is perfect and most of the games even look pretty good in widescreen (you can do normal aspect ratio if you prefer). Some SNES games work better than other, I played through a bit of Link to the Past, everything is pretty good except the rain sound which is pretty much only a problem at the beginning.
You have to do a ridiculous memory stick swap thing to get it working, but after you get the hang of it, its not too bad at all. Anyway to sum it all up...
I
my PSP