With a dual-core processor, 8 gigs of ram, and using the integrated graphics of my AMD A8, not for me. I did try it, though. I got a smokin' hot 5 FPS, with a peak of 8. Dropping $60 on a PS3 and ensuring it'll just work flawlessly was just a better investment for me.
Also, pretty sure A8 is quad-core... With a 6-core FX I can get ~20FPS minimum on a lot of games, so it doesn't really take much to emulate if you don't mind couple glitches. But yeah, 60$ isn't half bad, but it absolutely needs a specific FW to be hackable otherwise it's a pain.
First I'm hearing of cores being dedicated to graphics, that's not how APUs work, APUs use an otherwise unused section of the CPU and the GPU, not the base specs. Are you sure you have installed the drivers to unlock the cores? AMD CPUs from the FX-early APU era come with all cores from the 3rd one and on locked and you need to unlock them...
As for PS3, from what I remember from PS3 hacking, only FW2.55 is hackable straight away, with all others needing to either update to that or downgrade (and downgrading is a PAIN).