This is a video of the upcoming PocketSnes v7.0 emulator that is being done for the gp32spain competition. I don't know all the details, but the original thread is here. It seems like a very nice improvement.
From what I've been gathering, there have been a lot of improvements put into the mode 7 and some other things. It sounds like FX games are now working in the Fast version of PocketSnes now. Not sure how playable it makes the fx games though.