PS3SX Beta 20110118 is released. PS3SX is a port of the PSX emulator Pcsx for PS3 using PS3 SDK and psl1ght. it's a hybrid pre-release. PS3SX emulator only works on PS3 firmware v3.41 retail.

Support in this pre-release version:
2 Players
All iso formats
psx homebrew *.psx and *.exe
Save works for player 1 & 2
Sound support CDDA and XA
Full screen
Full Speed

Download: PS3SX Beta 20110118
Source: Here