Following he release of the PSP Slim & Lite in Europe, hackers have already to got to working on the system. And believe us when we say, things aren't as bad as one might have imagined! Mathieulh has confirmed that the new PSP has twice the amount of NAND space than the original PSP coming in at 66MB including spare data (this feature was un-documented). The increase in NAND was speculated, but now Mathieulh has confirmed it.

above is a picture of 3 psp's mobos. The left and right are Big PSPs, and the middle one is the slim
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MaxConsole