Until we know anything about the PSP2 I don't think we can really judge. I do think though the PSP2 has got a good chance of doing well, as I think it's media capabilities could be a strong selling point combined with Sony's better online infastructure.
However Sony need to get their **** sorted to make it work - all PSP2 games needs to be on the PS Store, online services on the console need to work and be useful and they need to sort the pricing of mini's / online retail games out as at the moment they're simply far too expensive compared to the iPhone's offerings (i.e. Angry Birds). They need to sort their software lineup out too - sure I wanted them to do awesome portable Uncharteds and God of Wars - but they need games I can play on a 20 minute train journey or whatever too, and they need to be more then just another tetris rehash or PSN store port.
This is the most challenging handheld generation yet for both Sony and Nintendo I think, as no one knows what effect the iPhone and similiar devices will have on the market. They both seem to be positioning their devices as high-end graphical type things to distinguish themselves - which is a good move - but I'm still not sure people with iPhones will feel they want another thing to carry around, better games or not.
