It's built into custom firmware (or at least it is with all the newer ones).
All you have to do is get whatever PS1 game you want to play, convert it to an EBOOT.PBP and place it in this location on your memory stick;
<driveletter>:/PSP/GAMES/<gamename>/EBOOT.PBP
It will then show up on your PSP's XMB, just like your PSP games.
If a certain game won't work, i suggest you look it up on the list here and see if there's any notes as to which firmware it works on, then get the popsloader for that specific firmware.
(Guide on how to use popsloader can be found here)
I'm so kind ;)
EDIT: Oh, and if you want to convert a game image / disk to an EBOOT.PBP, i suggest you use AutoPOPStation4 (search for this on google). Other than that, i suggest you try to only download games that are already in the EBOOT.PBP format.
PSP, all the way from 1.00 to 5.50 GEN D2 - DS Lite w/ M3DS Real (M3 Sakura v1.34)
PS3 3.01 - iPod Touch 2G 16GB Jailbroken - Xbox 360 60GB - PC, Q6600, 3GB DDR2, GTX260 (216) 896MB
This message has been edited since posting. Last time this message was edited on 10. March 2009 @ 20:08
u are kind my brotha, the only reason i asked for help is because the search is showing old stuff and i thougth ther would be a new version of a emulator out or something thanks though