Into Liquid Sky has posted their review of the PSP System.
I would have to say that I'm impressed with what the PSP can do. But, first and foremost, it's a gaming machine, and that's the most important aspect of the unit. Graphically, the games already available show off some nice power, putting the PSP anywhere in the late Playstation, early PS2 range of visuals. With the addition of a Memory Stick, tech heads can view their own photos, listen to music and watch downloaded movies on the PSP. Each section has a number of options and serves the "all-in-one" aspect well without excelling in any of these regards.