mupen64 is slow right now because of the pure interpreter core. It'll change in the future but for now there's nothing you can do... But don't forget it depends on the game you are trying to run, some games can run at 60 fps with current public release, and some can run at a very nice speed. Examples of such games : (War gods, quest64, ridge racer, Aidyn...)
lain: It turns out that ur right Hacktarux because when i ran Mario Kart aerogauge etc it ran @ about 60.2 fps where as Zelda MM ran @ 5.6ish