I personally like the design. I do wish it had a second analog nub though. Also, because you can download a game from the PSN store and play it on your PSP and PS3, I hope there is a game save-synching feature, so that you just have to plug the PSP in via USB (or even have it use bluetooth) and you can continue the same gave at home or somewhere else.
However, I do wish the screen was a bit bigger. Sony has the opportunity to gain a greater number game releases if they made the screen a touch screen, added a camera, and added sixaxis-like accelerometers in the PSP. This way, the PSP could potentially run the same games that developers are making for the DSi (if it was held vertical), and also get games that are being made for the iPhone. This model PSP would have the upper hand on its closest two competitors if that happens, because basically, right now, all the games released for the DS is turned into a DS exclusive; and it would be better than an iPhone for games because each game would have the optional 'traditional' buttons for control. But it needs to cut into its competitor's games, and the only way to do that is to cover each ones strengths. It still has the chance before its Fall release to add in these features. I hope anyway.
So, basically, it would be perfect if it:
Had two analog nubs
Had a touchscreen
Had a camera
Had accelerometers
It would be nice if it had:
GPS
Even more memory
The same screen size as the 3000
I would definitely pay $199 for this... something like $229 would still be a stretch for a lot of people...