Daedalus, The N64 open-source emulator, has just been released for the PSP.

The emulator still needs a lot of work before its ready to take on the likes of GoldenEye and Zelda though. Theres currently no sound support; no savegame support; low framerates; not all the N64 controls are supported; and it can’t boot up roms that are more than 16mb - Still, Its a good start.

We’ve yet to see if the emulator will ever reach a playable standard though. The main developer (StrmnNrmn) has stated before that he doesn’t have much time on his hands to work on the project. Daedalus’s Homepage reads:

Well, the good news is that he is still interested in he project and intends to continue it…but the bad news is that he doesn’t have time. He hasn’t had time to work on it for a good while, but as he said: " Maybe I just need to start working on small incremental changes than large, time consuming ones :)"

Time will tell - But don’t hold your breath.

You can watch a video of Mario64 running on the PSP (albeit at around 3 frames per second) at YouTube.