Of course I wouldnt have got one if it wasn't for the possibility of being able to play homebrew software and ISO's downloaded from the internet. Normally this is not possible with a PSP with its default firmware, but fortunatly the PSP I purchased came with the 3.40oe-a firmware which makes this possible. What it does mean is that I can play all my old PSone games on the PSP without the need of an emulator (at full speed and without the need of a PlayStation 3 to transfer them over), and I can also play games directly from the memory stick rather than UMD disks.
In other words, it can do all kinds of stuff that Sony would prefer you not to be able to do!
Kieran demonstrating Resident Evil on my PSP
I had been toying with getting either a Nintendo DS or PSP for sometime now (to quench my neverending need for mobile gaming), but to be truthful, I have not yet seen anything that really stands out on the DS, and most of the games I've seen look no better than a lot of 2D games on the GBA (Hell, I've seen better games on my old Commodore Amiga!!!)
Oh well, now I can play Resident Evil 1,2 & 3 (my favourite game series) and Silent Hill on the go (as well as tons of great PSP titles!!!!) Whoppeeee