I think you guys are getting things mixed up.
will play PS1 games using EBoots of the PS1 game. (Ripped and converted to an Eboot)
Android will ONLY play PS1 games with the PSX emulator using disc images (BIN, ISO, IMG, PBP, etc.)
psx4droid v2 (PSX Emulator) - Android app on AppBrain
Here's how to create the images:
How to Set Up and Configure the PlayStation Emulator psx4droid | larsa | Androinica
Android will not play PSP games.