Here is some made up but realistic specs for the new system, that I think might just be introduced:
* Mini Blu Ray drive. (Mini Blu ray discs are now out - 15 GB DL max data capacity) seems viable and the only option to still have UMD compatibility)- Backwards compatibity with PSP UMD games and movies.
* Wifi A/G/N spec
* Bulit in 2-3.2 Megapixel webcam for GO! Messanger / Skype video support. And cellphone like photos and videos.
* Dual analog sticks
* No touch screen. To costly for production and not needed. (Too much like a DS)
* PS1 and PS2 emulator bulit-in / PSnetwork downloads for games (Like the PSP).
* Longer improved battery consumption. More power saving features?
* 1Ghz+ low power consuming processor and 128Mb of SDRam or more
* No built in Flash drive, too costly for production. (Besides Sony wants us to buy Mirco Memory sticks or MMS Duos of 16gb etc)
* Divx and other major codec support from day 1.
In a news post today they stated that various third party highly placed sources definitively confirm that the PSP2 is on the way (though it won't look like this). Apparently, third party publishers want to have games ready for the PSP2's launch, but Sony hasn't yet given them the kind of info they need to start creating games. This isn't a strange practice as with any system, the first party companies get the dev kits and system specs first, but hopefully they don't wait too long to send out that info. The rumor is that clear info on the PSP2 will hit at this year's E3 with a possibility of the system launching as early as the end of this year.
The system is said to have a beautiful screen (no change there), faster load times, better buttons, 8 gig internal flash, UMD support, and the possibility of a touch-screen and built-in camera. Kotaku didn't list their source specifically (why would they, no one wants to lose a job), but they were right about Sony's Home, so there's always a possibility this rumor will hold true as well. I personally think it's too early for a PSP2, but if it supports my old games I'd definitely upgrade.
A British company may have won the contract to design and build the next-generation graphics processor for the PSP2. Imagination Technologies Group announced in a press release this week that the company has signed a license agreement with a new partner, “a major consumer electronics company.” Industry sources say that the partner is almost certainly Sony, and that the SGX55x graphics chip will be used in the upcoming PSP2. The secrecy on the part of Imagination Technologies makes sense, because Sony is understandably unwilling to announce its plans for a PSP successor just yet. Imagination's PowerVR MBX chip is already being used in the Apple iPhone, so Sony finds itself in good company with this manufacturer.
The SGX55x chip promises to be much more powerful than what is currently found in the PSP. At the moment, the PSP uses a proprietary GPU designed by Sony that is very similar to the older graphics processor in the PS2.
PSP GPU Specifications:
166 mhz core speed
2 MB VRAM
Up to 33 million polygons per second
664 million pixels per second (fill rate)
PowerVR SGX530 Specifications:
200 MHz Core Speed
13.5 million polygons per second
1200 million pixels per second (fill rate)
DirectX 9 Shader Model 3 support / OpenGL 2.0
128-bit color precision
Multi-sampling and anti-aliasing
Note that the specifications above are for the current generation SGX530. The SGX55x, which is still in development, is expected to be much more powerful. With unified shader architecture and OpenGL 2.0 support, we expect the next-generation PSP GPU to be somewhat in-line with the graphics capabilities of the RSX chip currently found in the PS3, just on a smaller scale. Two images below are taken from recent technical demonstrations by Imagination Technologies. These images show what the pixel shaders in the SGX GPU can do to add realism and effects to 3D games.