It seems besides the launch lineup many recent news about the 3DS have been disappoointing.It has a lower than expected battery life, more expensiv games, and possibly a hefty price tag. If sony plays their cards right then that have real chance of dethroning the 3ds with PSP2:

3DS has a 3.5 hour battery life- Sony should try to get at least a 5 hour battery life.

3DS will have $40-$50 games-Sony should try to maintain the price of games with the current PSP.

3DS will likely launch at $300- Sony demolished the dreamcast by announcing the PS2 for $300. If sony announces the PSP2 for $250 or lower then that could be a real game changer.

So what do you guys think? Does sony has a real chance of dethroning Nintendo?

With rumors of the PSP2 being as they are, i would doubt Sony's capability to undercut Nintendo on any of those factors (unless they want to bleed seriously on each PSP2 sold, and i don't think Kaz has the stomach to sell those kinds of numbers to the higher-ups again)

Plus we're estimating based on Japanese prices. Despite the weaker dollar, Nintendo has incentive to at least try to keep prices lower overseas, just because there's still a bias against handhelds here as far as value goes.

Finally it's been deduced that the quoted battery life is an optimum scenario. Nintendo themselves claim DSi's battery life at 4-5 hours, which is clearly not the case

Sony has a chance, but the points you listed are really not that well done.

So let me get this straight? You do the currency fixture (not conversation) for the games, but not the handheld?

If you are going to convert the games to $40-$50 (It is apparently the price range of the PSP games in Japan), than the handheld should be converted to $249.99. 

Also the 3DS doesn't have 3.5 battery life. it has 3-5 battery life and 5-8 for DS (and this is under the assumption that nintendo is being conservative).

Not to mention the 3DS is bad for the eyes of infants. The PSP2 definitely got a shot, I think it'll happen, I'd like to know more details about the PSP2 but so far we all know everything about the 3DS and little about PSP2, Sony needs to use this opportunity.

You can do it!

They have a real oppertunity here, make it cheap, make it cool, make the games cheaper. the issue is the mass consumer dont give a toss about hardware specs, it could have a 3.5 hour battery vs an 8 hour battery, but the mass consumer dosent read the small print. so its a moo point imo.

if people are made aware that your not meant to play in 3D for more than 30mins at a time, and 3D can affect the development of children's eyesight. then they're is a serious weapon on their side. but imo, there is nothing Sony have to compete with 3D technology. i would say a price point of $150.

While you actually have valid points, much better in the op, wouldn't you argue that sony telling consumers 3D is bad for you..... is a horrible move, since sony has 3D products. 

Added Note: The warning that nintendo gives, is based on the fact of 3D products, not their 3D products.

3ds has monster hunter.

I'm not saying Sony has to inform consumers of this flaw, but this information should be on the box of every 3DS - like when you buy cigerattes. but i didnt think of that when i posted actully, so yes it would be dumb, because they're also trying to sell 3D products.

i'm still not sure about 3D, because people can go to see a film like Avatar for 2 hours 30 mins, so i think these concerns might be unforunded. however there could be long term damage to eyes, like say over 1 year, that you would occur over prolonged use.

either way, theres nothing i think they can do tbh, 3DS is going to be huge, and it has enormous 3rd party support. i have no idea what the PSP2 could do against that. unless it has 3D as well. and is cheaper at the same time.

Lets see:

• The 3DS has one of the best launch lineups of any system ever, this is including consoles.  The PSP2 does not yet have a launch lineup but when released it will be contending with the already established amazing 3DS library.  
• The 3DS battery life isn't 3.5 hours, it's 3-5 and from what I've been reading, that's the lowest of the low estimate and people should expect something closer 6-8.  As for the PSP2, it looks to still be a disc based system so expect a comparable battery life.
• The 3DS games price is the price of current PSP games price.  Considering this is because of rising dev costs due to the power of the system, I don't see PSP2 games price being any lower.
• The PSPGo was $250 and, again, looking at what the PSP2 is said to be why do you expect it to be lower?  Also, the US price will likely be closer to $250.
• The DS is popular amongst all age groups including parents.  The PSP isn't nearly as popular with the parents, name means a lot.

I'm not happy with the price and battery life of the 3DS but the OP is really just wishful thinking.

not a chance in hell, sorry but nintendo rules the handheld market and will continue too for as long as they want too.