[Bo]Trops has released a new version of his PSPMaster Sega Master System and Game Gear emulator for the PSP today. Version 006b of this homebrew emulator adds quite a lot, along with a few other updates which have been released in previous versions. The first thing you'll probably notice about this emulator is that PSPMaster is running at full speed without frame skiping when the YM2413 sound chip emulation is disabled so don't edit the default settings unless you know what you're doing. Here's the updated changelog:

v0.0.6b:
- YM2413 speed optimizations.
- YM2413 bug fixed.
- Configure emulator keys menu.
- Use hardware aceleration to draw menu images.
- 32 bits color menu.
- Read menu images from PNG files instead of custom format.
- Fixed a bug that was stoping emulation.
- Save screen shots in PNG format instead of GIF.

v0.0.5:
- Sound volume option added.
- Improved script files and fixed a bug.
- Improved cheat files (one cheat can change multiple memory
addresses).

v0.0.4:
- Fixed a bug in draw text routine.
- Support for cheats.
- Menu improvements.
- In game screen messages.
- Faster render code (Assembly).
- Added bios mode.
- More speed optimizations.
- Fixed a bug in screen shot routine..