Rooted Droid running Froyo at 1.0GHz
FF VII - Works great, no issues that I've seen yet.
FF VIII - Works well, but world map is extremely laggy and slow. Playable if you're patient.
FF IX - Runs fine, but sound glitches in some areas.
Dino Crisis - Works fine, voices are distorted, minor slowdowns in some areas
Mission Impossible - Does not work. Black screen after intro.
Little tip for the "Resident Evil" style games, set R to the camera button on the Droid. It then becomes a lot easier to aim and shoot. The game gripper helps immensely as well.
http://www.home.game-gripper.com/
I'm REALLY hoping that hardware acceleration will show up soon, but I'm pretty happy playing FF VII on my phone. By the way, anyone figure out how changing discs works in the Final Fantasy games?