Errrrr, where did i read the whole situation from.
Yes the psp games are limited to 222 mhz. But for the gb emu's or snes emulators, the cap is not there, they will run at the full 333.
Yes capping the processor made the battery long enough that people will except the batterly life( Who would want the battery to last like 2 hours :P.). But the deal is its capped in the actual game programming. So when they do decide to let the game makers use the full processor power, there will be no actual boost in performance for the old games, as the limit is coded into the actual games :P. Maybe thats why wipeout, and the other pd releases werent the full 1.8(or whatever) that they could be. :P