I'd like to see PS2 emulation, a built in hard drive, L2 and R2 buttons, a second analog stick and also more kinds of memory stick support (eg: micro SD).
Some people call the next PSP the PS2P, so I wouldn't mind betting PS2 emulation may happen, especially after a number of rumours suggesting the PSP2 will have graphics like the original XBOX, which virtually has the same graphics as the PS2.
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