I have to say, even though PS1P is and was a really great piece of work, I don't see much of a point in updating it when we already have the full-speed, official PS1 emulator with good features and compatibility!
Both Iris and Monkey64 were fantastic at the time of release, and still are. But as far as I can remember, PSmonkey is working for someone that won't let him put any of his homebrew projects online, so those will never be updated (unless their sources are available). Besides, Daedalus - the only current and active N64 emulator - rocks, and I kind of doubt there will be a better N64 emulator than StrmnNrmn's.
When it comes to the Genesis/Megadrive, we have DGEN besides PSP Genesis, and that works extremely well.
The SNES emulator could need a little refreshment to give better speed on some games, but nearly all games run at an optimal speed, so I can't wish for more.
Updates to MAME would be great, and so would any Apple emulator. There are also many of the earlier homebrew releases that were original and fun, but never really finished and polished through. I can't name any examples, though.
But you know, not all discontinued projects need any more updates. Many of them are as good as perfect. However, updates with added features are always good!
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