I once reported the news on September 24th of this year. The original emulator was a very buggy emulator that ran games at 10fps max. Well the emulator has improved and games run close to their PSX speeds. It also now supports a bunch of games instead of just 3, they have a list that is viewable here. It now has a new name, the PS1P and doesn’t require you to own a PS3 (like Sony’s own emulator for the PSP requires [probably so they can increase the money in their wallets, a typical Sony ploy]). And it’s free. However the legality of the emulator is a bit iffy, but I am not a law/political/lawyer person so don’t take it from me.
Anyway here is the link to the emulator: