PSMonkey who released the first Nintendo 64 Emulator on the PSP and is still working busily at improving his from the Ground Up emulator for the PSP, heres what he posted yesterday:
ok here is the low down. I have a few things that require being fixed, a few things that would be nice & a few things that are not needed but would help. My goal is to get as many done by sometime next week & release what I have sometime durring E3 (may 9th - may 12th).
Here is the list in order of importance
* Needed *
1) Fix Textures
2) Add Tlb suport (mario needs it)
3) Fix Rsp Microcode bugs
4) Fix flickering by adding double buffering
* Would be nice *
5) Speed up memory reads/writes
6) Add suport for F3DEX2 microcode
* Not really needed *
7) Add microcode detection or contoll by ini
8) Save suport
Its great to have 2 N64 emulators at the same time being worked on for the PSP and the possibility of code sharing makes it very interesting. Remember that both projects deserve masses of praise
More details at PSMonkeys Site (and forums)
Official Site Here