Hmm. Well, of course I wouldn't. However, I WOULD buy a PSP based on the following:
A) Lots of good software. I seriously doubt there will be no problem here, although from what I've seen thus far I'm not too impressed.
B) The price. I would love to pay $150 for it, but might go as far as $200...
C)...but it has to be a durable machine. If this thing is gonna break as soon as I take it out of the box, there's no chance I'd invest $200, let alone $100 in it. Sony doesn't have a good track record for this kind of thing, so I'll wait and see how many get returned within the first month.
D) Battery life, naturally. 3 hours won't cut it. 6 hours is good. I'll take 6.
E) Comfort. The SP is so damn great because it fits snugly in your pocket, without fail. The PSP looks small enough, but it's not a clam-shell design like the SP. I'll have to hold one to find out for myself.
Overall, a nice alternative to Nintendo's GameBoy library. If Sony can dedicate themselves to supporting the PSP for at least 5-6 years, then its a good investment.