I'm hoping that PBP support is included by some kind of plugin. While I agree that it would be best to leave it as an optional add-on that must be obtained somewhere besides the Market, I hope that the functionality isn't scrapped altogether. My attempts to convert the games I've bought over PSN have all ended in failure. So the ability to natively run them without conversion would be fantastic so long as it doesn't jeopardize the emulator itself.
I'm excited that the new version is so close.