I tried this last night using Videora Labs' PSP Video 9.0. Amazingly, it worked great!
I am running into a slight audio/video syncing issue (off by a second or so), but all-in-all it passed my test of being easy-to-do with a very short learning curve--I got the hang of it within 30 minutes.Keep in mind that you'll need to purchase a larger memory stick to transfer video to your PSP--running around $70 and up. But, the bottomline--The NetSavvy Guy says this works like magic! Give it a try...
