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Less than 10 days before its release, Sony Computer Entertainment has updated the PSP product information page, confirming that it will indeed playback video files stored on Memory Sticks.
What sort of video files, you ask? The same ones produced by Sony digital cameras -- MP4. There will of course be conversion software available on release day. More details inside.
Sony Computer Entertainment Corporation (SCEJ) has updated the product information page for the "Playstation Portable (PSP-1000)" portable game unit to be released on the 12th. Inside, they have made details evident such as specific information about the video and audio formats the PSP is capable of playing, as well information regarding how to create supported files.
Sony had previously announced that the PSP would support the playback of MPEG-4 AVC (H.264) video from "UMD" media, and would release video titles. However, they did not make clear any specific details about playback of video files from Memory Stick Duo.
Made clear during the page update was that the PSP will be capable of playing videos in the MP4-standard "Memory Stick Video Format" which have been created using the "Image Converter 2" video conversion software to be released by Sony Marketing. Image Converter 2 is also bundled as "Image Converter 2 for CLIE MP4" with the Clie "VZ90" released in September.
Video files are recorded on a Memory Stick Duo, and can be played on the PSP. A preview version of the software is planned for release on Decmber 13th, the day after the PSP's reelease. Also, movies that have been recorded with digital cameras capable of recording MPEG-4 video, as well as videos recorded with the Cybershot "DSC-M1" can be played on the PSP.
Audio files remain the same as was announced in the previous report; in addition to ATRAC3plus/ATRAC3 and PCM, it will support the MP3 format. Supported bitrates for ATRAC3 are 66, 105, and 132kbps, while the ATRAC3plus supported bitrates are 48, 64, and 256kbps.
Furthermore, although the PSP can playback data obtained by music distribution services or those purchased with dedicated devices, playback of these files requires that they are recorded onto a Memory Stick Duo that supports MagicGate (MG). However, MP3 files can also be played from Memory Stick Duos that do not support MagicGate.
Still image support will be in the form of the JPEG format (DCF 2.0 / Exif 2.21). Further information regarding the details of video, audio, and still image playback is planned for explanation of a dedicated page, but the page reads "Planned for early December."

Inspired by: http://www.watch.impress.co.jp/av/docs/20041203/scei.htm [1]
Product Information: http://www.scei.co.jp/products/psp.html [2]
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