Just to stick my oppinion in here as a bystander without any handheld... I was going to buy a PSP over the GPX2 when it came out last month, until I started to research it a little. To start off the price of the PSP doesnt seem to much. £180 here in the UK for a sleak looking all in one multimedia machine, Sounds like a dream come true!
That was until I found out that I had to buy a Sony Duo Memory Stick (£90/1Gb)

Then on top of that each game I bought would cost me an extra £30 each! Thats already £330 for a PSP with 1Gb memory and two games

I could buy a fairly decent entry level PC/laptop for that much or even an Xbox 360 with game for XMAS! So I thought about it for awhile and decided to read somemore about what it could offer me apart from games...
Ooh WiFi, decent hardware specs! Maybe this thing can be hacked and I could just play emus on it and forget about the commercial games I thought to myself while heading to the nearest PSP forum. Err WTF is this!?! "All European PSP are version 1.51 or higher meaning none of the emus or homebrew will work on it" AND if I want to watch any movies/TV shows I have to re-encode them first... O.. t.. h.. e.. r w.. i.. s.. e.. I have to pay another £15 for each UMD movie that I ALREADY own on DVD! :angry:
I started to realise that this was just another Sony money making invention the sad thing is they are losing a lot of customers because of their greedy corperate tactics! The PSP could be a killer machine its 3D hardware alone is miles ahead of the GP2X but two games wouldnt last me two weeks no matter how good they were, and I cant afford to keep hoping that the latest firmware wont cripple my new £330 gadget from playing anything but expensive games. <_< Needless to say I didnt buy one.
So there you go, the true story of why an average man (me) will probably never own a PSP (unless its free), its not that they arent good enough or arent better than GP2X's, thats not the point. Its the fact that they cost too much to own in the long run and if I know Sony like I think I do they will do everything in their power to stop emulators and homebrew taking off, you know why? Because without anything else to use on their PSP's people will always have to go out and buy the latest games
Life should be about freedom, people should be able do what they want with a machine once its legally theirs not be tied down by legistlation and Sony's never ending firmware updates!