I have done a quick test for this very promising emulator.

Of course, it's not perfect (the N-Gage will reboot -without asking activation codes though- when you will try to launch another game after playing one, you can't press two keys at the same time (sad for te jumps in platforms games or games using diagonals), there is no sound and the savegames don't seem to be *included yet. But it is really VERY promising, just try it and there is no doubt that you will agrre with me.

I have also tested some games :
Games working : QuackShot (Raahh, wonderful graphics - too bad it isn't playable because of the only-one-key-at-a-time *), Revenge of Shinobi, Shinobi3, Marble Madness, Altered Beast, Gynoug, Streets of Rage and Phantasy Star 2 (but the compression is too bad for the fonts used, so it's quite hard to read the texts, and furthermore the saves don't work).

Games that stop after title screen : Phantasy Star 3, ThunderForce 3.

Games that don't work at all : Shining Force

I will let you test other games *
Enjoy. *

Also posted on the N-Gage Forum
Post there for your reactions