Out of curiosity, does anyone know A LOT about the PSP emulator called PPSSPP?

I have been using it for quite some time now on my phone, but I seem to be encountering issues which make gaming very annoying. Issues such as:

1) Cannot use .PBP files, as the emulator does not read them correctly, thus preventing me from playing most of the homebrew games I find online.

2) Despite having a powerful phone (1.5GB of memory/ram?, 60GB of space, and a high GPU speed (dual core)), it continues to lag like crazy, is there settings I have messed up on?

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Next up, I am having issues with my Drastic DS emulator for my phone as well. These issues are:

1) Cannot load ANY homebrew roms

Does anyone know how to resolve these issues?

(NOTE: I used to own these actual game systems, until they broke, now I just have their games)

You'll probably have better luck if you go to PPSSPP or Drastic DS' website and asking for help.
I've used PPSSPP before and using frameskipping helps make the game more playable. There should be some other settings that will make it faster.
You can also try closing applications on your tablet to free up some ram. Or try a less demanding game and see if it runs faster.

I'm not exactly sure what the problem would be with the game files other than them being corrupted. However I can tell you that your phone will not run PPSSP at full frames. I have a higher clock speed and a quad core with the same amount of ram and I can barely run it at a quarter speed sometimes. You'd need a really high spec phone to run it. As it stands now most phones now aren't going to be able to run it at the optimal speed.

As for Drastic it curruntley doesn't support a lot of homebrew game at the moment so that is most likely your issue there.