via http://www.emucr.com/

rpcs3 SVN r32 is released. rpcs3 is an open source PlayStation 3 (PS3) emulator for the Microsoft Windows. Current versions can run only small homebrew for PS3. Developers are planning to make it to emulate PS3 on its speed in the near future.

rpcs3 purpose:
- Make PS3 developers easily test their apps and homebrews on PC without crashing their PS3 or moving their apps from PC to PS3.
- Just playing PS3 games on your PC and have fun! ( In the future )

rpcs3 SVN Changelog:
r31
- Implemented GameViewer.
- Fixed crash on exit.
- Rewrote ELFLoader.
r32
ELF64:
- Fixed load section names.

http://code.google.com/p/rpcs3/