Surprised I didn't see a topic on this. It's been done, I just beat SF 3 and 2nd Impact. Third Strike isn't working yet, but JoJo's Bizarre Adventure and Red Earth are. I can't wait for the final version.
http://nebula.emulatronia.com/downloadg ... ulator.zip
Emulator ^
I can post a link to the roms, but I want to see if it's against the rules or not. If it is you can PM me.
Here's a SS.
http://img260.imageshack.us/img260/2092/sfiii001gq0.png
BTW! Forgot the mention, before you play. Make a new folder called roms in the cps3emulator folder, and place the zips in there to play them. Enjoy!