I'm having an issue with the virtual memory cards...
If your device is not rooted you won't be able to find the default memory cards.
However, fpse4android works like fpsece.
It creates one YourGameName.ini for each game you run. This way you can have a different configuration for each game (e.g. different pads/memcards/settings).
Each time you start a game for the first time, fpse takes configurations from the default fpse.ini. On the 2nd run the individual YourGameName.ini gets loaded.
If you now change configurations for the default fpse.ini without loading the actual game, it will still load the preset YourGameName.ini if there is any.
Start your game iso, change the location for the memcards and restart.
-go to (Android)Settings>Applications>Manage Applications>Fpse>Clear Data
-start fpse, while in the iso load screen go to (fpse)settings, setup everything and save default config.
Before you go for option2, you can load one memcard from your sd card and transfer files from the internal cards to it if you like.