The PSP Engine offers the following features:
- High resolution rendering
- Dual Analog control
- 3DTV output
- Ad-hoc Party functionality
- Expansions to the PSP’s main memory and graphics memory
- Unified save data
Its kind of like a PSP emulator for the PS3, allowing you to enjoy your PSP games on a big screen. Hopefully, the Engine will be expanded to include PS Vita support too.