It looks like the Pandora project is really coming together nicely. EvilDragon has just posted this video on the GP32x boards of a development model up and running. It's pretty exciting stuff if you're a homebrew fan (and we know you are), featuring demos of the device smoothly running emulators like PicoDrive, PSNES, booting up a build of Linux, and even getting its Quake 2 on (at high frame rates and looking crystal clear).

Bit more here