It probably still is possible to get it running, mostly changed it because I don't believe it's worth the work for anyone. RAM will be a really serious problem, just the PSP RAM will eat 32MB of the 64MB available, and you need 8-16 MB for a decent JIT cache, and you need space for a texture cache as well, probably at least 4-8MB. Then you need some space for the emulator itself. It will be an extremely tight squeeze and lots of work. Then, all you get is a 733MHz 32-bit x86 CPU. Emulating a 333Mhz PSP CPU _and_ interpreting GPU instructions will just not be possible at full speed so only some games will be able to run full speed. Forget the big ones like GTA.
Get a Shield TV if you want to play on your TV
Get a Shield TV if you want to play on your TV