Actually , the emu has been released by the author on 28/02/2007 but it has been officially announced today.

This is a Japanese Playstation emulator , it's not the greatest , but it can run a lot of games which ePSXe can't run . But the emu is pretty hard to emulate but if you're an expert , you'll be fine .

News from Ngemu

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Screenshots :

Changes :

_SPU:The relation among the key, the envelope process, and the adpcm decoding process was reviewed.
_Eithea will be playable.

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Yeah I think so too , I've tested a lof of games with this one and the speed is really really bad . But the fact is it can emulate some rare games , which can't be emulated by either ePSXe or pSX emulator...