It looks like there's been a couple of developments on the entirely unofficial Wii activities front in the past few days, including one that seemingly delivers as promised and one that remains a bit of a mystery. That former item comes courtesy of Waninkoko, who has released what is purported to be the "first custom firmware for the Wii," which apparently allows writable DVDs to be read in emulators. In related news, the folks from TeamShift have released that tantalizing image above of what they claim to be a working PSP emulator for the Wii although, given that it can only muster between 4 and 8 frames per second, "working" doesn't exactly mean "playable." They are promising to deliver a beta version that brings games up to their normal speed, however, although they're unsurprisingly not making any promises about when we can expect that.

Read - Wii News, "Custom Firmware for Wii Released"
Read - DCEmu, "PSP Emulator for Wii"

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Wii gets custom firmware, purported PSP emulator