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I am a Sony hater, but you cannot in any way look at what the PSP has done and conclude that it is a failure. A disappointment? Maybe, depending on what you expected in the first place.

Many companies have tried to tackle the GameBoy's dominance (don't tell me DS ain't a game boy - it's by Nintendo, it plays GBA games, so it's part of the legacy). While the PSP hasn't done that, it is the first opponent that has not been completely crushed.