I got my PSP. I went ahead and picked up Metal Gear Acid. It's basically a turn and card-based strategy game with a Metal Gear skin. There's nothing wrong with that, it's just different than what most people would expect from Metal Gear.
I haven't messed around with video because I'm still stuck with the default 32 Meg Memory Stick, but I did throw a few tunes on there to try it out. It works well, but while trying to listen this morning while I was on the treadmill, I kept hitting the top triggers which navigates between songs. A little annoying.
The screen is fantastic and easily the best small LCD I've seen. It comes with a full UMD version of Spiderman 2, which looks great. The only drawback is a tiny amount of ghosting, but given the device's size and cost, I'll let it slide. For $250, it's really a sweet piece of hardware.
Web Game of the Moment
Bejeweled 2 - I have to mention the most addictive web game there is. I've spent quite a lot of time with this game and it's still entertaining. What's better is it comes in a variety of flavors: Browser, standalone, Pocket PC, Palm, Phone, etc. Do yourself a favor and check out all of PopCap's games.