Ash over at Kotaku has the scoop on a tarted-up PSP supposedly headed our way sometime soon. According to his sources, the new PSP isn't PSP2, but a slimmer, faster version of the original.
The PSP Slim (or PSP Lite), is going to have a new LED screen, new battery life, faster UMD drive, 8GB internal flash and a much better D-Pad. The price? Hopefully under $170, which is around what the current PSP is going for sans extras.
PSP Slim Details Revealed [Kotaku]