RazkarCed2911 has released an update to his PS1 Emulator for Xbox 360 with some notable improvements that you guys should check out.
New gpu plugin, allow to play game in hd !!
Load game from fat, ext2/3/4, ntfs device
Save states support
Gligli, Razkar, Tuxuser, [c0z], lantus, all the libxenon-dev team
Watch the video...