Just got a new beta from rlyeh. Here is what he has to say:

What’s new———-Some optimizations donePNG grabbing supportScaling modes 1:1 and 1.25:1.25 for SMS / 1:1,1.5:1.5, 2:1, 2:1.5 and 2:1666 for GGAdded lot of options: autofire, double buffering,vsync, frameskip, gamma correction, etc…Untested multiplayer support (RF)Fixed bugs everywhere as usual…What’s missing for a release—————————-Just some hoursWhat’s missing for a decent emu——————————-Adding crystal FM soundAdding PCM soundFixing some minor compatibity bugsAdding SC1000, SG3000 supportKnown bugs———-Some games do not display gfx ok (Space Harrier).Some games do not run at all (Shadow Dancer).NoPCM sound yet.FM sound to be fixed (metallic sound).Following options are disabled: Pirotic’s USB Libraryfor multiplayer, saving/loading movies, cheats.