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It really depends on the games.  I'd probably pay $300 if it had a solid lineup.  I'd just be worried due to the lack of developer support on the PSP.  Yes, it had some really great games, but the support for the system is nowhere near the level of support of the DS.  It really depends on how successful the 3DS releases at $249 I think.

The device is awesome, but Sony can't repeat past mistakes and release a system at a ridiculous price point.  I'm a pretty big Sony fan too, but I'm wary.  I really want one though.