There's a new rumour floating around about an upcoming PSP redesign. It predicts a complete aesthetic redesign, including a sliding screen, but no new hardware inside.
So you'll have the same internal architecture as the current models, but the form factor will be more phone-like with the inclusion of a sliding screen. Interesting. What say you, would you be excited about a smaller, more pocketable PSP if it didn't offer any updates hardware-wise?