I know that Project64 is now considered the best N64 emulator, but I figured some of you might be interested in checking this out.
Seems like alot was worked on and improved--click here to read about the changes and improvements if you're interested:
http://mupen64.emulation64.com/whatsnew.txt
Here's the Mupen64 HomePage:
http://mupen64.emulation64.com/