Here is Sony's page about the PSP. It looks good as a gaming platform, but what i really want it for is an internet/media platform. So if they could get Word on it and a good internet browser for it i would consider buying it. If they do not, i may start to relook at PDAs or comparable device.
One thing that i do like about it is a USB port that it has, which hopefully means i can hook up a small hard drive to it (10gig or so) to carry around media for it.