I'm not sure what you mean by "smokes"? But I think you're referring to an emulator. Yes, I think there are some of those available.
I already have the Harrison's eBook, pharmacology stuff, and emergency med. I also have a GPS-friendly map for my city, but I think I have to buy some extra accessory to make the GPS work. There are several media players available. I'm not sure about PocketPC, but I think it's possible that PocketPC might be slightly better than Palm at things like a media player..etc.
I recommend you also start browsing their handheld reviews, by price or rating..etc. Study it for some time so you make the right decision. And as I already told you, there seems to be more medical software for Palm than PocketPC.