Alright, I'd like to ask something too, because this is also confusing the hell out of me:

I have a PS3 (US, not Japanese) with the Ad-Hoc Party program from the PSN store installed on it.

If I bought a PSP handheld, modded it, and torrented the Japanese version of PSP2, what all could I do if I got online, and what would I get "cock-blocked" from? Granted, I can't read a lick of Japanese text, and would like to wait until an English version is available (IF it becomes available).

Also, I keep hearing about some new CFW coming out mid-December; what's that all about?