Honestly, I think it would be beneficial releasing both games just 1-2 months apart, for a few reasons:
1. The interactivity between the two alone is making me think of getting GTM to compliment GT5. The thought of unlocking cars while on the go that can be used in the console game is tantalizing. Releasing the games near each other would make the impact of this feature most effective, from sales perspective.
2. There are 50 million PSP owners out there. Not so many ps3 owners. Getting people hooked on GTM could nudge them towards buying a ps3, or at least towards buying GT5 in addition to GTM. The interactivity mentioned above would help here as well.
3. Marketing would be made much easier, from a mindshare perspective. Between the release of both games, you'll have people talking about Gran Turismo for a good three months straight. Plus you could do some joint advertising for both (advertising "Gran Turismo" moreso than either GT5 or GTM individually), and you could do promotions like FilaB mentioned above - possibly offering a voucher for one title via the other, or maybe something involving demos.
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