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PacManFan has given an update about his PSOne emulator for the PSP on the ps2dev forums. Earlier in the thread, PacManFan had this to say:
“I meant to post that "Progress" message to this thread last night, looks like I missed. Well, anyways, for those who missed it, I managed to get some games (Driver, Dragon Ball Z Final Bout) to work with my emulator. I've got .BIN/CUE support working now. The Driver.Bin file was about 650MB, and the DBZ bin was about 150. My mem stick is only a 256 MB, so I had to test on my psp with DBZ.
Now that I've got .BIN support working nicely, I'm going to add compression through zlib so that the .bin files will be compressed to .gz files. After a few tests, It looks like most Bin's can be compressed by 50-65%. I'm going to work on a resource tool to remove/stub psx movies to help shrink things a bit. But for right now, I'm still working on my recompiler.”
Keep up the good work PMF, you have quite a following =)