Battery life is NOT an issure with the PSP, trust me. If you are that worried, you can buy extra batteries for the PSP officially, and swap them out easily, unlike the DS. I easily get 5 hours of life playing just Ridge Racers, MP3s get upwards of 10 or more hours for me, and videos leave a n/a since i just got videos onto it lol.
The PSP can surive a few drops, just like the DS. Drop either on a sensitive spot, then of course its gunna break.
The PSP feels more portable then then DS, just because of the shape of it, and it feels plenty more durable then my DS. The DS i worry about the joints holding the 2 screens together, had those things fade on my laptop before.
Edit: Man, i couldnt let all these (old) comments live on anymore. I have video playback working on my PSP, and a half hour of nice quality is around 150mb. I have a 512mb stick in it right now, which cost me just under 80 bucks shipped from newegg.
The Quality of the video is outstanding (assuming you take it from a good video). Check out some of these pictures i just uploaded:
One with the flash just to show it is on my PSP lol:
Then a few more:
2 of them were made from the Low Quality RvB videos, and the Family Guy episode was ripped from my dvd, but at a lower quality (first time trying it, so i didnt want it too big).
Right now, i have 2 full anime episodes on it, plus RvB episodes, songs, pictures, and stuff, and i still have 90 mb free.