PPSSPP Feature Request Page

[LunaMoo]

PPSSPP cheats ARE in CWCheat format, the differences are we store cheats in game specific ini files and keep _S and _G lines only for legacy reasons without requiring them where psp plugins store them all in one cheat database and require _S and _G lines to identify the game. There's a possibility that some more complex code types might also differ, I find them useless - much more limited than assembly and actually very confusing, never saw practical examples of other people using them either, but recall they might work differently on different plugins due to some bugs and/or bad documentation, unsure how they actually should work.
In general most(if not all) PSP cheating plugins eventually supported "CWCheat" format since it was always most popular one and those more complex code types really were unpractical, so you should have some choice in which cheating plugin you want to use.

Some of the cheats might not work between real hardware and emulator, or even between different emulator versions, but that's caused by imperfection of emulation and it can't be solved without changing the addresses in cheat itself, luckily affects only some games. Also many "fun" cheats(including fair amount of 60fps patches) are changing game code and those are usually compatible even in affected games.

So yeah performance will be your biggest problem, AFAIR there are suprisingly few games which required overclocking for 60fps patches on PPSSPP, but real hardware might be limited by much more, even running cheats themselves might cause additional performance drops.