Can Xperia Play Emulate PSP 3D Games ?

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Any phone will emulate the 3d games at least at half speed when the emu is done. Wait for the 0.5 update for improvements and the 0.6 for an android dynarec that will improve the emu speed drastically

Why at half speed ? are u saying That our phone does not have enough power to emulate PSP ? PSP Only have 333mhz cpu with dual core . So it's 333 x 2 = 666mhz .. But our phone/xplay have 1ghz cpu .. can u explain why our phone cant emulate PSP with full speed ? because I Think android phone have better graphic than the PSP

Dude, I think you should read up a bit on CPUs, how a CPU works and how the architecture works, because clock speed does not solely determine CPU power.