PPSSPP is a PSP emulator written in C++, and translates PSP CPU instructions directly into optimized x86, x64 and (soon) ARM machine code, using an efficient JIT compiler. PPSSPP can thus run on quite low-spec hardware, including stronger Android phones and tablets, as long as there’s support for OpenGL ES 2.0.

Changes:

* Large general speed improvements and assorted bug fixes
* “Software Skinning” option which speeds up many games with animated 3D characters (but may slow down a few, like Monster Hunter – experiment with turning it off)
* Various fixes around stencil/alpha, reducing glow problems in Wipeout and Gods Eater Burst.
* Timing improvements making more games run at the correct FPS, also fixing some audio issues
* More debugger features
* Better looking and individually resizable touch controls
* Automatic install of games from ZIP files, like demos and many homebrew.
* Software renderer improvements
* VERY basic ad-hoc online play support, to be improved in future versions.
* And more…

http://www.ppsspp.org/index.html