Switch's blog point's to Sony's new PSX (DESR-5700 and DESR-7700), a PVR which incorporates PS2 game functionality alongside the PVR functions. The new PSX really only has one new feature. TV content that has been saved to the PSX can be moved over to your PSP (via your Memory Stick Duo) for viewing on-the-go.
I'm disappointed though that Sony didn't add larger HDDs or other obvious upgrades. This feels much more like a .1 update than a 2.0 release if you want my honest opinion.
If Sony had launched the PSX outside of Japan, what features would you want to see in a PVR that also had PlayStation2 built in?
PSX with PSP Support [a bloglines blog]