Chankast hasn't budged since the 2.5 release a year or so ago. But with that being said, even on my old crappy pc I could get a lot of the chankast games to run well. The emulation is suprisingly complete, considering it is only the third release of the emu.
Like hk said, it is very video card dependant, there isn't any point in trying it unless you have a radeon 8000 or higher. Also you have to tweak the video settings for each and every game to get the games to run well (thus why this release was long over-due on my part). On top of that the frameskip doesn't work at all so to regulate the framerate you have to over-clock, underclock the cpu (which you can do with this wrapper via the "-cpu" tag). The only thing you'll really notice from the clock tweaks is sound not always syncing properly.
This is more than acceptable on all games except samba de amigo and space channel 5, for obvious reasons.