So Sony has announced the PSP2, what they're calling the NGP (Next Generation Platform) in Tokyo.
CPU: ARM® Cortex™-A9 core (4 core)
Storage: Unidentified "new media" for games, on-board Flash storage
Display: 5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED
Wireless: 3G, GPS, Bluetooth 2.1+EDR (A2DP/AVRCP/HSP), WiFi IEEE 802.11b/g/n
Inputs: Multi-touch screen and multi-touch-sensitive back panel, D-pad, L/R shoulder buttons, standard PlayStation buttons
and games in the following existing franchises:
Hot Shots Golf
So... have at it.
[size=9](details and screenshot pulled from Kotaku)[/size]