Just thought I'd post the latest update to this great emulator.
Current version: r467
Source code: fba360
The default path for roms is /dev_hdd0/game/ROMS00000/FBA/r467 (PS3) Cleanups in RunMessageLoop - performance improvement for all drivers
r465 (PS3/360) Performance improvements for CPS1/CPS2 driver
r462 (PS3) Audio driver performance optimizations - big lag decrease
r455 [Core] - 2nd attempt at CPS3 bios fix. Should work 100% now without crashes.
r454 [Core] - added Oriental Legends Plus driver to PGM (oldsplus).
You can edit the path in the xml config file that is produced after running the emulator once.