You are right, there will an offical PS1 emu. How much of an emu it will be remains in question since it will play modified PS1 (and from what i read even some PS2) games. The PS1/2 games will probably be distrobuted through the e-distrobution system they are setting up.
There is also a PS1 emulator being made by PacManFan and some people who are helping him. Right now its at a rough beta stage (5-10fps only running a few demos).
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