The PSP2 is currently called the NGP (Next Generation Portable), and it is set for a Holiday 2011 release in Japan.
The demo clip from the press conference.
CPU: ARM Corte-A9 core (4 core)
External Dimensions: Approx. 182.0 x 18.6 x 83.5mm (width x height x depth) (tentative, excludes largest projection)
Screen: (Touch screen) 5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED Multi touch screen (capacitive type)
Rear touch pad: Multi touch pad (capacitive type)
Cameras: Front camera, Rear camera
Sound: Built-in stereo speakers, built-in microphone
Sensors: Six-axis motion sensing system (three-axis gyroscope, three-axis accelerometer); Three-axis electronic compass; Built-in GPS; Wi-Fi location service support
Mobile network connectivity (3G)
IEEE 802.11b/g/n (n = 1x1)
(Wi-Fi) (Infrastructure mode/Ad-hoc mode)
Bluetooth 2.1+EDR (A2DP/AVRCP/HSP)