CD-i member Stovent is actively working on his CD-i Emulator, the free and open source CD-i Emulator 'CeDImu'. Next to the Mame CD-i efforts and CD-i Fan's CD-i Emulator 0.6, this is probably the next promising effort in emulating CD-i. Stovent is making good progress, being able to boot the BIOS rom now as well as decent graphics that show the right colors. There's one thing to be optimized which is the cursor movement, and with more optimization of the code, it will be able to run some CD-i titles in the future as well. I think, in the limited time, this is quite an accomplishment and this might become a nice competitor in the CD-i Emulator landscape.
Stovent: "DVC support will be added when CeDImu will have a good compatibility with the base case system on several boards. If I get everything listed upper working, stable and fully functional, the goal is to create libCeDImu, a complete library (static and/or dynamic) to allow any program to implement CDI applications (other emulators like Bizhawk, MAME, etc). Many thanks to CD-i Fan for his help and his information that made me progress way faster than I could imagine."
Keep an eye on this one ;)