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Congrats on the PSP. Got the 2000 version, myself, one sweet machine, though I may upgrade to the 3K, because sunlight does tend to wash out my screen.

For those of you who want to run videos on your PSP: there's lots of good freeware to transcode media into the PSP's .mp4 format, e.g. MPEG Streamclip for the Mac and Pazera for PC. (I'm sure there are others, but these work for me.) One hint: sometimes videos won't play due to obscure formats, make sure the file output is set to 320 x 240. Just convert the file, plug in your PSP to your computer's USB port with a cable (sold separately), drag and drop to the "VIDEO" folder, and you're good to go. Happy transcoding!