Here is a new release of the CPS3 Emulator for Windows by ElSemi.
Pasted from the readme:
New features emulated:
-Palette fade in/out
-Sean stage special tile compression
-Proper sprite/tilemap alignment
-Proper priority handling
-Added savestate support
-Added custom screen resolution
The CPS3 emulation is almost complete. Only the shadow/blending
emulation is missing. There is a preliminary emulation for it
that works partially with the shadows, but is not correct in some
other places.