I have one, bought it with the anticipation of hacking it so that I could play all my old Nintendo and SNES games on it. (Roms aren't illegal if you actually own the hard copy of the game same as CDs) Found out the version of the PSP that I bought was unhackable at the time of purchase. I managed to buy one game for it but the games are very pricey ($40-60 a game). I did pick up a few movies for it, and for the most part they are the same price as any other DVD you would go to the store to pick up. The screen is beautiful, I love the resolution and hardly ever notice a blur on fast motion (LCDs are problematic at best with screen blur on fast motion) The sound is not near loud enough, speakers are about .5" in size and located on the bottom of the unit right where your hands end up, but with a good set of headphones this is easily overlooked. The screen is horrible to watch in bright areas, you'll get glare and reflections off every bright surface you're near, but they make anti-glare screen protectors for the thing that cost around $8.00 that are awesome fixes to the glare problem. Watching movies on UMD is the easiest way to drain down the batteries, you will be able to watch about 4 hours of continuious movies and the battery will run flat, but they make every kind of charger and backup battery system imaginable to fix this problem including cases, attachable booster battery hand grips, emergency power supplies, and anything else you could possibly think of to cover this. The memory cards for the PSP are the Sony proprietary Memory Stick DUO, they are small, and they are expensive (almost twice the price of SD cards) and some of them are not compatable with the PSP. However, some hong kong website (liksang I think) has a nifty little memory card converter that attaches to the UMD door on the back of the PSP which will allow you to use almost any memory card you have with it. Datel has even built a 4 Gig hard drive for the PSP that plugs in and covers up the memory card slot that also comes with a double capacity battery. Both of these attach to the back of the PSP and serve as grips for those of you with large hands.
As you can see, almost every little quirk or complaint about the PSP has been dealt with via some kind of accessory. I actually have 12 movies and 2 games for it now, along with some high end sony headphones, and the screen protector. I have a 256Meg mem card in it. I have found a bunch of websites dedicated to hacking it, have hacked mine and loaded up all my old favorites from NES/SNES. I carry it around with my favorite music, my old games, and a few podcasts and / or the occasional porn clip all stored on the memory card in a handy little bag with 8 discs, FM transmitter (hell with headphones, in the car I use the radio), headphones, remote, screen wipes, and a car charger. My next accessory for it will be either the SD card adaptor or the datel hard drive.
All in all, it's a wicked lil multimedia device.
-Sun Runner-