PPSSPP uses the same save format, the same memory card directory structure, and emulates the way a PSP reads memory cards. So basically if a game supports reading another game's data it should work fine as long as you have the save data in the SAVEDATA folder of PPSSPP's emulated memory card (actual location varies depending on platform and portable setting). It also goes without saying that most of these features require region matched saves (so JAP-JAP USA-USA EUR-EUR, not JAP-USA USA-EUR ect)
You should also be able to unlock extras in Phantasy star online 2, valkyria chronicles, metal gear acid 2, and others.
You should also be able to unlock extras in Phantasy star online 2, valkyria chronicles, metal gear acid 2, and others.

