All 3ds understanding efforts are documented on 3dbrew.org, we are clearly ages from understanding it completely, let alone emulate it.
Second we would need a rom to emulate (to test our emulator) and since the decrypting keys were not found, no emulator will be made.
On a more optimistic note, 3d models, graphics and audio are pretty much the same as in the Wii and DS (just slightly different headers and slightly different structure)
So a lot of the information is in there but the 3ds use a well organized operating system with a lot of services and system callbacks which will be needed to be emulated and
for that there is 3dbrew!