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The official BigBig Studies site says they are looking to higher 10 people for positions across all aspects of their team. One of the positions is an engine progammer for the PSP.

Clap Hanz just released some downloadable crap on the PSN for HSG5, there PSP golf game just came out in NA this month so they should be working full time on the next HSG game. The last one was kinda average, so i bet they want to put a lot of effort into their next game.

And don't count on GT5 coming out early next year, i would expect nothing before September 2009.  Polyphony Digital are pretty small, at about 110 workers.