Not unless someone writes or ports a PS1 emulator for it and manages to get it to ship with the machine it won't. And what are the chances of that? Still, it should still be perfectly capable of emulating everything you otherwise mentioned to some degree (except PS2 - now you're just taking the piss).
Actually, the GP2X is already capable of emulating PS1 games (and it does it pretty well), so it shouldn't be much of a stretch to see an emulator being ported and shipping with something like this. does bmax support the arm cpu?
Yah it looks pretty interesting. And running linux doesn't that mean BlitzMax will be able to create games for it?!
No.