PicoDrive by notaz is an excellent Genesis/MegaDrive/SegaCD/32x emulator for Pandora.

Changes:

+ Switched to cleaner CD controller code from Eke-Eke’s Genesis Plus GX.
* Fixed overflow issue where cd emulation would break after ~10 minutes of gameplay.
* Fixed synchronization issue where model1 CD BIOS would randomly hang.

http://repo.openpandora.org/?page=detail&app=package.picodrive.notaz