Well, I'm not saying it's %100 to actually load up a game, but I assumed he meant at least %75 playable with or without sound.
I even agree with him in that it WOULD be nice if there was playable PSX emulator. Dare to dream, baby!
But in actuality, the person that worked on it for the GP32 never got more than a couple frames for second and no sound at all..... That's not an emulator, that's a slideshow.
Not to mention an SMC can only hold 128 MB total, by it's limitations, and the full CD games of the playstation would have been too large in most cases to fit on the card and the emulator and system rom too.