What's up with this emulator?

I've been playing around with EPSXE the last few days or so and I did I search in these forums to see what other people were saying. I came across an emulator I hadn't heard of - the aforementioned Emurayden.

When I google it, though, the website seems to have this "coming soon/next generation" type splash screen up. Is it skipping to PS2 emulation or something?

I'm only interested in PS1 emulation really. I'm actually pretty happy with EPSXE, but changing around video options and changing games is a pain. Does Emurayden alleviate some of this stuff?