superskull85 has released PSPXT 1.00 Lite. According to the author, this application will simulate how your XMB will look on your computer before actually compiling your RCOs and flashing them to your PSP. This application will let you view your XMB and its icons, backgrounds and colors.
superskull85 is letting prospective users know that this application cannot preview already-created themes, read RCOs, and does not support PRX. Moving on to a rough changelog since its previous release (aka XMB Emulator ALPHA 1):
Added support for two more XMBs
Added full support for Main and Sub-Icons
Now lets you preview either Main or Sub-XMB
Added Full Navigation and separate navigation for both Main and Sub-XMB
Added a File Flasher through Flash0 XMB.
Added links to a useful guide for customizations
Included a Windows Integrated variant
Added Main and Sub-Menu names
Added a Main Menu