Tiger Labs has made a proof of concept DS emulator which is pretty neat! The only thing is that the games run really slow on this emulator. They anticipate to be ready in 2012. Some improvements can be found in making new processors and phones that will be able to keep up with the intensive floating-point calculations that DS games use. Now lets see how long it takes someone to make a 3DS/PSP2 emulator!
(via Electronista)