Im not sure if this has been done before, but after using devhook for awhile I have some suggestions.
1. Add DAX support.
2. Be able to switch between the UMD and the ISOs. (currently just ISO's)
3. Boot custom firmware, ex: Eplision (if its real)
4. Be able to switch mem sticks when its emulation firmware. (must have dumped firmware on the second mem stick also)
Feel free to add you own suggestions.