A 2.0 PSP can play homebrew.
Anyway the games I have for PSP that I found really fun and worth the money:
ATV Offroad Furry Blazin Trails
Metal Gear Ac!d
Grand Theft Auto Liberty city Stories
And I plan to add Socom to that list.
Anyway I thought it was worth the money, and I just love ATV offroad furry. That game just pwns.