Not to mention that the news was posted by 007Cheater, who has demonstrated a less than optimum amount of intelligence on that site in the past.
Jumping over there, I notice that the next news post (not by 007Cheater) starts out with: "Finally some news from an actual coder we all know who has contributed programs to the scene." ... somehow I doubt that this is merely a coincidence 🙂. Maybe there's hope for that site yet.
In addition to the memory limitations being an obvious problem with such an emu (particularly given a couple of the titles he lists as working), the email also makes reference to the N64's "complicated sound system channels". AFAIK, N64's "sound system" is little more than a RAMDAC, and relies on the CPU or RCP/RSP to do actual sound processing. Another obvious piece of BS is the screenshot; when you hype an emulator it's customary to show a screenshot of the emu *running something*, not a pic of your GUI...