The Jpcsp Team have released a new build of their PSP Emulator for Windows written in Java, heres whats new:

Updated Simplified Chinese (PRC) translation and added Traditional Chinese (TW) translation (all by Darksoviet).
Implemented EXIT and POWER callbacks' handling.
Improved sceKernelExitGame.
Improved sceKernelReleaseWaitThread.
Improved several callback management functions in ThreadManForUser:
- Fixed sceKernelNotifyCallback;
- Improved sceKernelCheckCallback;
- Added returning of proper error codes.
Improved sceMpegAvcCsc and MediaEngine to work with YCbCr ranges.
Implemented Kernel_Library_37431849.
Implemented sceAtracSetMOutHalfwayBuffer.
Improved SAS sound processing:
- Redirected all sound playback to __sceSasCore and __sceSasCoreWithMix;
- Added basis for synthesis and mixing frameworks;
- Fixed a few voice playback timing bugs.

download here