Homebrew developer helloworld1 has released a new version of Cueplayer PSP on the QJ.NET PSP Development forums. This app lets you play cuesheet files along with FLAC and Ogg Vorbis files. Here's an overview from the dev:

This is a complete rewrite of my cueplayer using pure C. This can play cue file along with flac and Ogg vorbis. This program requires a newer PSP hombrew kernel. Maybe > 3.71. It is tested in PSP3000 with 5.03. with flac.

Changelog 0.20

• Fix the file selection bug: if dir is not exist, when starting the program, the program will halt.
• Now the files are sorted in the dictionary order.

Changelog 0.10

• Initial OGG vorbis support.
• Fix a init path bug
• Fix a lot of stability bugs.

Changelog 0.07

• Show total track number
• Show total track time
• BUGFIX: Cannot seed previous track in track 1. Now it will start the music over.
• BUGFIX: Seeking exceeding last track will crash.
• New: README file available.

Download: Cueplayer PSP v0.20

Visit: QJ.NET PSP Development forum