The Planet Detection Testbed is designed to simulate the architecture and operation of a space-borne four-telescope nulling interferometer. Constructed in the form of a dual chopped Bracewell interferometer together with star and planet sources, it reproduces the principal features of the flight beam combiner designed at JPL for the proposed TPF-I Formation Flying Interferometer. The aims of the testbed are to demonstrate stable four-beam nulling and planet detection at representative star-planet contrast ratios. In the flight design, starlight between 7 and 17 micron wavelength is to be nulled, and 2 to 3 micron starlight is used for fringe tracking and phasing the interferometer. There are also metrology systems and alignment systems which are required for deep and stable nulling. The testbed reproduces these features; 2 to 3 micron light from a thermal source is used for fringe tracking, and nulling and planet detection is performed at 10 microns. The testbed also incorporates laser metrology and other systems enabling continuous control of beam alignment. The ultimate goal is to simulate planet detection at star-planet contrast ratios of order $10^{-7}$ during full rotations of the telescope array using the phase chopping method. The latest results from the testbed are presented including four-beam nulling experiments at null depths of $10^{-5}$ and planet signal detections at similar contrast ratios.