This great emu has had its first release of many. Here is some info on it and a download link.
Almost full CPU emulation (approx. 30 opcodes need to be added)
FPU emulation started
Most PowerVR registers identifed and emulated
2D Graphics Output from VRAM using Direct Draw
Detailed Memory Map drawn up
Disassembler complete apart from FPU opcodes
Register debugger – contains some SH-4 Registers and PowerVR registers
Debug Console – basic debug console showing errors etc.
Translate instuction function from Hex to Mnemonic (some errors)
IP.BIN display and editor
Tiny Ini file