Gambit Studios has released a Nintendo GameBoy emulator for the Palm OS. There are two versions of the software: a free version for ROMs <32k and a $16.95 version that can play larger files. There is no sound and an overclocker like Afterburner is recommended.
PalmStation has a news item with links to additional pictures, and re-Visor has a review of the software.
Thanks to Petro and to PDA Buzz for the link. Discuss this news item here in the Software section.