No, he doesn't, since there's no guarantee developers will do anything with the Gemei. And judging from the current state of it, and seeing how long it's been out, I bet it won't ever get that popular.
If PSX emulation if your main concern, PSP is the answer.
From what I hear the Gemei is only better than the A320 for neogeo and capcom arcade games. And that's it.