It is very tough to emulate, I very much doubt you can get it to full speed on the GP32 unless it is entirely written in ASM (which won't happen).
Specifications:
"Mikey" - 16 bit CMOS chip @ 16Mhz, 65C02 @ up to 4Mhz
Suzy" - 16 bit CMOS chip @ 16Mhz
Graphics: 4096 color palette, 16 simultaneous, 160x102 standard resolution, 480x102 artificial resolution
Audio Processor: 4 channel, 8-bit DAC, handled by "Mikey"
Math Co-processor: 16-bit multiply and divide, parallel processing of single instructions
Compare that to the SNES which just has a single CPU running at 3.58 MHz and how difficult that is to emulate. 16+16+4 Mhz running under several badly documented processors, add a resolution which is higher than the GP32, an audio processor and a Math processor and anyone with just one bit of computer knowledge will understand that it will never happen on the GP32. It is no wonder it is not even emulated well on a 3Ghz PC.