Much appologies for double posting but to be more specific, Wonderswan emulation attempts ended in around 2001-2002, the most recent hint of continuation was for the rather akward Oswan (no offense to anyone out there that migh have worked on it) by PMHacks in 2004. Other than that there are no hints of any continued projects, specially not ones for windows.
Plus, Cygne had it's sourcecode released in faith that sombody out there would continue it, but since then there has been no reports of that happening, in effect I'm kinda baffled on why it "died"? Though I admit I haven't played it in a while, it's merely because of incompleteness, how they were shot down way before their time. If I had even a single bit of programming knowlege I would have long ago taken that sourc and tried continuing it, then again, maybe sombody has secretly? I dunno, just needing info on the situation.