PPSSPP - A Free & Open Source PSP Emulator

The best free & open source PSP emulator PPSSPP just got the 1.0 release! PPSSPP can run your PSP games on your PC, Mac, and even Android and iOS device (and also many other platforms by unofficial ports, such as Linux, Blackberry and Symbian)! It supports most commercial PSP games at a decent frame rate, and what's more, as the unique emulator features, you can play in full HD resolution and save & restore game state anywhere, anytime!

Official Site: http://ppsspp.org/index.html
Download: http://ppsspp.org/downloads.html
Commercial Games - Compatibility and Results:
http://forums.ppsspp.org/forumdisplay.php?fid=5