My reaction:
- Memory Stick Micro is unnecessary. It means your current sticks are incompatible, and surely smaller form factor = smaller maximum capacity? If Sony really wanted this to maximise storage, they'd release a special high capacity MS Duo by combining the flash chips inside the Micro.
- No mention of 802.11g/n. Please God let it be in there. I tried downloading a God of War demo from my PSP once, and it took ages. Hours, I think. With no background downloading. Faster wireless is essential.
- No second stick? Seriously?
- Form factor isn't so bad, it's just not as good as we've come to expect from Sony
- I really like the restated commitment to the PSP. It's great that I'm going to be able to play LBP, Gran Turismo and MGS on my PSP-1000. Really like the compatibility.
Still, if the key to a successful platform is lots of great games, Sony should speed the hell up with their PSOne classics, especially in Europe. There are games like MGS and FF7/8/9 just lying around waiting to sell consoles for them. That would give the system a massive boost.
Overall, this new system brings no (or next to zero) additional value to existing PSP owners. However, the commitment to the existing PSP platform is cool, and should give existing owners something good for their consoles.