I absolutely LOVE my psp. It is the perfect portable entertainment system...I take it on plane flights to watch movies and play games, we took it to dinner the other night to share photos of a recent vacation with another couple, when my wife and I go shopping, I take along the trusty PSP so when she takes an hour trying on stuff at some boring store, I find a nice chair and play some Burnout Legends.....
I bet the 1.5's still carry a slight premium, as they are basically idiot-proof, but with all the new exploits and downgraders, much less so.