Fan games that are not rom hacks yes, but the legality of some emulation is too iffy and I'd rather avoid it if possible.
That said I own and dumped all my PSP isos, so that is fair game for me to use a PSP emulator with them to get a high resolution, provided the emulator works for the game. It currently doesn't seem to support DXC correctly though (really bad graphic glitches). However I can hook my PSP-Slim to the tv if all else fails, and video capture that.
The way I have my entertainment system setup makes it extremely easy to capture video from a wide range of inputs, and this weekend I'm going to be verifying which consoles I can indeed capture from. Then I can get a better idea of which games I can play on stream. And yes, that means I will be using original hardware where possible, so no save state or cheating bullshit or any of that.