psx4droid is an emulator that will make all the PSX/PSOne fans and Android users out there happy! psx4droid even supports the WiiMote to control the games, users have been able to run Final Fantasy VII flawlessly on the Droid Incredible. More information after the break.
You can find psx4droid in the Android Marketplace, it costs $5.99 and it is well rated on AppBrain. This emulator is compatible with any Android versions but you should have a high end Android device in order to fully leverage it (Sprint HTC EVO 4G, HTC Droid Incredible, Motorola Droid and Droid X for example).
Check out Final Fantasy VII running on a Motorola Droid in the following embedded YouTube video:

psx4droid version 1.1 was recently released, here is the changelog from http://www.appbrain.com/app/com.zodttd.psx:
Fast and feature packed including:
- Uses formats BIN,ISO,IMG,PBP,Z,ZNX, and Eboot (compressed too)
- WiiMote controller works
- Trackball dpad
- Memory card & save states.
- Virtual control overlays
- Scaling modes
- more!
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