Personally, I don't see it going anywhere. From the specs, it'll have to be the size of the average hardback, which is hardly convenient. Although the games currently confirmed for development are original licenses, I can see them being lost in a flood of PSOne ports within a year, and even the original titles are nothing worth shouting about. Compare this to the Nintendo DS, which is summarized very well in this thread, and it's pretty clear that Sony's biting off more than it can chew.

Of course, I'm sure that millions of PS2 owners will rush out and buy it, regardless of quality. Sony's reputation may help this to shift units. However, Nintendo's already commanding position, coupled with their potentially outstanding new handheld, are going to make it incredibly difficult for Sony to compete.

What are your early impressions of the PSP? Are you likely to buy one? And do you think that the machine will be an overall success?