A status symbol for nerds with money to burn. I got rid of mine after I found out just how Sony planned to support it. (READ: Poorly) and how they treat anyone who tries to support it well (i.e Lik-Sang)
Sony fanboys delude themselves into thinking that anyone who hates the system is either "poor" or, "a kid" who must own a DS. Which hurts when you use your gaming choice as a measure of your own self-worth.
One common insult, is to attack a person's wealth (and thus, their worth)
The thing is, if you can afford to buy a PSP you can afford a DS (eventually games and accessories destroy any accusations of poverty. Poor people don't buy video games, it goes in with the whole "not having money thing". (surprise!)
The difference is, while the DS owners are busy playing more new games, the only thing PSP owners seem to have are emulated 15 year old games FROM NINTENDO and a Grand Theft Auto port, and you need to hack the thing to play the old games! (and updating firmware, which is required to play the newer games, negates you're ability to hack. And "bricking" the system, which fanboys seem to glaze over is quite common.
You'd think being such "big spenders" (and thus, better than you) they could afford portable DVD players and all the great features that PSP has only much much better. If PSP players are so wealthy, then why don't they buy an Alienware laptop?
It's like a guy with a cool car mocking a guy with scooter, while a guy with 5 luxury cars, a yacht and a helicopter in earshot just shakes his head.
PSP is a like a hummer. Looks cool but runs out of gas before you leave the driveway.
DS is like a sensible, comfortable car. Isn't as flashy but better in what's important.
DS section of store: lined with games not all great but the ratio of good to bad blows PSP away.
PSP section of store: slim section filled with 60-70% movies you already have on DVD with one or two good games swimming a small collection of poorly to average-rated ports.
Most PSP owners are more concerned with appearing cool (which they don't, neither do DS owners). They think ownership of such, makes them better some how, which is sad on so many levels. They wear their ownership of a fucking game console as a badge on honor. It's not.
PSP fanboy: You're just angry you can't afford a PSP.
ME: Actually I owned an imported white PSP and I used it as a 250 dollar MP3 player.
PSP fanboy 2: u phail n00b go play kidee gamez on ur DS PSP pwnz joo!!111!
Me: *marvels at irony of FB2 calling anything I do "kiddie" (Castlevania?) owns me, Really? Why?
Well spoken fanboy: Because you can hack the firmware and emulate SNES games on it for starters.
Me: No kidding? and you find paying $250 for a portable high-end system just to play 15-20 year old Nintendo/Sega games on the go, is worth it?
Fanboy 3: PSP is the best portable ever it owns.
Me: Sounds more like PSP "owns" you.
Prices shown in USD.