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Onimusha12 said:
Since Sony is looking to drop UMD like a brick ASAP and a successor to the PSP would have to offer even more of the same secondary options that makes it more appealing than a gaming device a PSP2 poses a number of problems. Their primary concern will be that of earning back the trust of third party developers which at this point is virtually impossible.

 I agree that there would be many issues that they'd have to overcome, namely the earning of trust from 3rd party developers. 

As for it being virtually impossible, I think you are being overly bleak in that statement. Currently, isn't Nintendo in that same process? They're doing quite well, too.