Update #5: Yet more updates, namely PCEP v0.50 followed shortly by PCEP v0.51 have been released. Feel free to grab them and all future updates from our dedicated Emulators for PSP thread. Enjoy!
Update #4: PCEP v0.42 is next in line, and includes both normal and widescreen modes along with increased speed among other updates. This emulator for the PSP is progressing very well indeed!
Update #3: PCEP v0.4 has been released, and updates include compression support and auto saving among other minor changes. Just after adding the v0.4 news, PCEP v0.41 was posted... including a bugfix for new compression feature so be sure to stay current guys!
Update #2: PCEP v0.3 is also now available, with a configuration file now as well as menu and game backgrounds.
Update: PCEP v0.2 is now available, with both improved speed and sound!
Kamisama has made available PCEP v0.1 today, a TurboGrafx-16/PC Engine emulator for the PSP. Currently it is in an early test/debug mode (displays numbers on-screen used for error reporting) and it has some compatibilty issues, but sound does work... and some games go up to 60 fps! Another nice addition to the growing collection of emulators available for PSP v1.00 handheld consoles.