Developer TheFloW announced that he has gained access to the PSP emulator on the PS Vita. Given that HENkaku gives us full access to the PS Vita, this was not a question of “if” but “when”. And of course, who else but TheFloW at this point?
The hacker has shared minimal details so far, but shared a video proof of concept showing he has control at least of some input/output functions in the emulators. He anecdotally mentioned that the GPU of the PS Vita runs at 41MHz in PSP mode, and that it should be easy to add support for the second analog stick and touch.
More importantly, TheFloW mentioned that he has limited time to work on this, and is asking for help from experienced PSP hackers. In an ideal world, the people behind popular custom firmwares such as ARK (PSP Custom firmware running on the PS Vita) or TN-HEN would come back and help, but many hackers of the PSP/ePSP scene have moved on so this might be wishful thinking.
Gaining access to the PSP emulator on the PS vita would allow support for PSP backups, plugins, and of course homebrews without some of the limitations coming from VHBL. Of course, this assumes someone has enough interest in this to help TheFloW.