The best PS Emulator for a Smart Phone ( in my opinion). So if you have Windows Mobile you should be heading to this site now and installing it.

First impressions:

I have mainly only played RPGs so far, but the FPS is a vast improvement from the previous versions. I get about 48-53 FPS on FF VII & FF IX. The full speed of a NTSC game on the PlayStation is 60 FPS, so it is not exactly full speed but is also not very noticeable. I briefly tried Gran Turismo and get around 40 FPS and you can definitely see the low FPS there.

I am still tweaking the config file to get more performance and will report back on this later.

PS - The phone I am using of my Tilt 2 (Touch Pro 2) of course :)