3dsemulator.org now supports the open source project 'Citra' you can find the project on GitHub here
This website provides the latest complied versions of the emulator so you can start using it without the need of messing with the code.
The info below is outdated and the project has been revamped.
This 3DS Emulator (Code name Citra) started development in early 2012
Special thanks to:
Cryptox - The main developer, without him this project wouldn't come true.
Chief_wolfinjo - Designed the GUI.
MisterF - Still trying to make the emulator compatible for Mac Systems.
spiider - CpEc coding and fixing general bugs.
oblivion19 - Fixing the audio SPU3DS-X code.