WhiteRabbit56 has released a new version of his Gameboy and Gameboy Advance Emulator for the Zune, heres the release notes:
Updated: Jan-26-2011 Retest your save files everyone as they now save to Flash2/VBZsave so you can access them with Liberate. Please file any bugs on the google code page or under the compat list
Hello everyone,
I've been working on Visual Boy Zune. I do NOT have a HD so I am not going to be held responsible for anything this may do to your zune (although it shouldn't harm it in anyway that isn't recoverable).