Don't forget, there's a metric ton of software which can quickly turn your PSP into a full-blown multimedia powerhouse - you have to recode certain files, but it's quick and painless. There are commercial programs which do this, but there's plenty of excellent freeware floating around the web which get the job done (since I'm a broke student constantly scrounging for pennies, I prefer the latter).
At first I used my PSP mostly for games, but I've found it also does a nice job with MP3 clips and MP4 videos.







