Just like anything else, there are pros and cons of the PSP
Pros: The PSP is a multimedia system that allows you to play video games, listen to music, and watch videos. Since launch, Sony has added an internet browser with several other internet features such as RSS. As for the core of the PSP, the gaming, it has a pretty good library of games. This year, the PSP will see a lot of great games coming out, such as Crisis Core: Final Fantasy VII and God of War: Chains of Olympus. The PSP also has the ability to sync up with the PS3, and in some cases the PS2. In Japan, there are a lot of peripherals for the PSP, such as a camera, a GPS system, and a TV Tuner.
Cons: It may be a bit of a hassle to update your PSP through firmwares, especially when you buy a new game and find out that you need to update it before you can play it. In order to update, you need to have your PSP plugged in and have a fully charged battery. The internet browser does not work as well as it could (of course, I'm basing this off the older PSP model). It is somewhat difficult to convert your videos into MP4 format, and relabel them and store on your PSP. The peripherals in Japan are not slated for release in the US quite yet. The Memory Stick Pro Duo can be somewhat expensive (although they have gotten cheaper over the last few years).
The PSP is a great system, and is worth the purchase. The PSP's pros outweigh the cons by a lot, especially with all the new updates and upgrades to the system. The new games coming out are impressive. The PSP, all-in-all, is an amazing video game system.
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