It's far from best, not as far as DS compat goes, the only reason I would say it is best in any form is because it has extra memory for emulation.
For all round compat the M3Real + GBA expantion option on DS is by far better, without the DSLite/DS slot 2 option then SCDStwo is the only option for GBA compat but that is at the cost of normal DS compat, that the Acekard2i is best at with no patching, though if you don't happen over any DS roms with issues then it's the best for you
DS+DSLite had slot 2 (GBA port) DSi to 3DS-XL do not have slot 2
A PSP can play GBA very well and a nice bonus of a larger screen it is also very good at emulating other systems such a SNES Megadrive and other 16 bit machines aswell PSX
PSP is by far the better option as far as emulation goes
DS I find has a more fun collection of original DS games but as far as emulation goes SNES and Megadrive are going to look rather bad being squashed onto a low res screen, so the best emulators are the 8bit ones such as NES SMS and GameGear (GBA and SNES only via the SuperCardDSTwo, SNES will be squashed or the screen will need to scroll, or fixed center that will hide some of the image, GBA & SNES is not perfect)
Personly I have
All DS models, flash kits can only play DS mode games (there is one rare one that can play in DSi mode, though not one of the best flash kits, but as a second kit thats great) so don't expect to play DSi only mode games or 3DS games
3DS with Acekard2i (I stopped using my SuperCardDSTwo, I don't think it will work now anyway with the later 3DS updates I have) [the very latest 3DS firmware has just blocked the Acekard2i, so don't update the 3DS ]
DSLite with M3Real and GBA Expantion
PSP 2001 softmodded + MS Pro Duo Micro SDHC dual slot adaptor + 2x 32GB class (10) micro SD's in it (It's still a lil less that 60GB lol)
Depending on your needs/wants depends on the console you go for
Overall the PSP can play alot more than any model DS can
DS has more fun originals than the PSP
Both are realy good at the end of the day and if cash wasn't an issue as it is for most of us I would say get them both and enjoy the best of both worlds, but given no choice but to get one or the other then it has to be the PSP more because of the homebrew scene than the PSP games
If you go for DS though the model depends on GBA compat realy if you want the best GBA compat then it's a DSLite you want plus a M3Real & GBA expantion (Original DS does not have a back light so kinda sucks there) if you are not fussed about GBA then a 3DS/3DSXL or DSi/DSiXL is the best option and an AceKard2i [Note that these consoles have updates and may block the card at points and you must update the flash kits before updating the consoles] (SuperCardDSTwo can give you a GBA emulator I would consider that as a second card only and is not compatible with latest DSi/3DS update)
Overall for the DS, the DSLite is maybe the best option due to never needing to worry about updates as that console never had this issue plus GBA compatibility is near perfect and some DS games require things plugged into slot 2 such as Guitar Hero games that can't be played on the newer DSi or 3DS