I got to thinking about this earlier today. I did some searches and found a program called TextMaestro. It's a program used to convert from various assembly languages into C. The program obviously requires a good amount of tinkering to work. Libraries must be composed which tell TextMaestro how to convert certain instructions. The end result, however, would be an easily readable, already highly optimized version of ZSNES that could compile and run on the PSP. What's more is when the libraries are completed, this conversion would only take a single click. I have a solid programming background with some instruction on assembly language, and I think this is an idea no one's thought of yet.
While SNES9X is a fine emulator core, since it accomplishes much of its work in high level language constructs, it's Super FX chip, transparency, and Mode 7 support is much slower than other emulators. That's not to mention it's sound implementation, which unfortunately seems to lack in certain areas. I have much faith that even a half-assed port of ZSNES would run games far more efficently then SNES9X does.
Would any devs here be interested in taking on such a project?