I just read in a site these about PSP :
"Sony are remaining notoriously tight-lipped over anything remotely PSP-based. So far we've been left guessing on minute details like processing power, batteries, interface, compatibility (not to mention the design) but what we do know is that the games will come on a new format called UMD - a small optical disc, housed in a MiniDisc-style casing. Sound expensive? Well, you could be wrong - we gave SCEE head Chris Deering a chinese burn until he spilt the beans on the pricing structure for the PSP games.
Deering stated that PSP games may cost as much as 50-60 Euros (that's around �40, and is thought to be the absolute limit) but the majority of games will cost just 20-30 Euros, which comes out at about 20 smackers. �20 for brand new optical disc handheld games? Why that's a bargain, Mr. Deering sir! That's also around a third cheaper than most brand new Game Boy Advance games, another fact which may well force Nintendo to rethink their handheld strategies.
If you haven't already caught the lowdown on the Sony PSP (catch up here) then you won't know that it can play music and movies too, thanks to its DVD-quality MPEG 4 compatibility. Deering suggested that films made available for the PSP will cost less than regular DVDs, and music discs would be available for around �7 a pop. Music pirates will most likely have a hard job of downloading tunes onto the new UMD format, so that's another feather in Sony's cap. "
If all these are true PSP would some new and nice characteristcs.