RACE! PSP is a Neo Geo Pocket and Pocket Color Emulator for the PSP. The latest version is 2.16. Enjoy pocket versions of most all your favorite NEOGEO games in smooth and flawless emulation.
RACE PSP 2.16 What’s New:
Time Rewind feature: map ‘Special: Rewind’ to any PSP button in the Controls menu to enable. See documentation for more information
Save state format has changed: RACE! PSP will still read the older save state format, but loading will be slightly slower
Not a new feature, but the documentation now includes a section on how to have RACE! PSP load a BIOS ROM file (instead of using the customized hardcoded version)
Official page: RACE! PSP Official site