drk||Raziel has posted some more news concerning his work on Dreamcast/PS2 Emulators for PS3.

As you might have already read a basic cross compile of the core of nulldce is working. This was tested on an official debug unit, over the internet. I’m currently working on getting it to work with the open ps3 toolchain (which, is a lot of work as there’s no open sdk available yet). So the next few weeks will be mostly dedicated on getting the compiler/libs up to par, so that we can have some usable output ! For those interested, to get the cross compile working I just had to define a new compile target, and reused the existing linux/wii codepaths. I must also thank the donors — the target to get a ps3 is already half-way reached ! Will later on make a thank you list (if you want to keep your donation anonymous have no fear, i will email before publicizing any details)

Source: http://drk.emudev.org/blog/