I been watching videos on youtube about all this stuff and I have a few questions.
1. I noticed some emulators run slowly. Is this fixed or are there updates that run better? N64, PSX, SNES, GBA. SNES and GBA run fine with the exception of a small handful of games on each. PSX depends highly on which game/region/etc... Most PSX games can be played 100% by just adjusting the GameID or experimenting with different POPS versions. N64 is still in its infancy. A few games are playable but slow. When a "stable" revision of DaedalusX64 is released I'll add it to the first post.
2. I also noticed there is a DS emulator. Does it run slowly too? Yes it does. How do the touch screen games work? They don't. It is top-screen emulation for games where you can get by without using the touch screen.
3. What can be done to prevent some lag or slowness when playing the games? Are the games still playable or does it lag enough to make it undesirable? GBA, NES, Genesis, Gameboy, GameGear, TG-16, SMS, all run great. SNES runs great also however there are some issues with games that utilize special chips. PSX games run great once you find the correct settings. Just google PSX on PSP Compatibility for a wiki with details. Generally, emulators have an option to adjust cpu speed. If you're having slowdown issues you could always try adjusting that.
4. Are there updates frequently? Not too often right now. They seem to come in splurges.