Sony announces a lighter version of the current PSP during E3. It is not exactly PSP 2, it is more like PSP 1.5 (or that is what I will call it).
The lighter version still includes the 4.3″ LCD and UMD, but instead, it is 33% lighter and 19% slimmer. Game loading time and battery life have also been improved. The only additional feature here is a video output where you can just plug into any television (preferably a 40″ LCD TV) and play instead of using the small 4.3″screen of the PSP.