My experience with FFVIII and Chocobo World left a bad taste in my mouth and this smacks of a similar ploy. I think in a stand alone game should be possible (if not always easy) to get everything. To have to get a second game to get every last item feels like extortion. If it was a multiplayer focused game that would be a different matter.
Having said that, I'll most likely buy a PSP and this game because this was my favorite game in the FF series. Also it's a matter of pride that I try this version since I mastered the PSX version.
So does anyone want me to revise my item/armor/weapon lists to reflect the new translations and items?