The widely-rumored PSP2 is expected to be unveiled early Wednesday at a Sony press event in Tokyo. For the record, Sony hasn't officially confirmed the new PSP, but company exists have been coyly hinting about it for months now, and several game developers have openly admitted to seeing the revamped handheld console in action. The new PSP isn't to be confused with the also-rumored PlayStation Phone, a.k.a. the Xperia Play, an Android-powered handset from Sony Ericsson that most believe will make its debut at Mobile World Congress in Barcelona next month. While the PSP2 probably won't make traditional voice calls (although I'm sure it will handle Skype voice chat, a feature already available on the existing PSP 3000 and PSP Go), the new console is said to boast wireless 3G support, as well as an eye-popping OLED screen and—finally—dual analog sticks. Kotaku has a handy rundown of the current and past PSP2 chatter, including recent rumors that the handset will have a rear touchpad, a larger display than existing PSPs, and—like 2009's PSP Go—no more physical UMD drive, meaning that all new PSP games will be downloadable. Another hot rumor about the PSP2 is that it will have 1GB of RAM (twice that of the Xbox 360) and a souped-up processor that's "as powerful as the Playstation 3"—a boast that's probably more hyperbole than reality, but we'll hopefully learn the truth soon enough. Among the many other question marks about the (as-yet unconfirmed) PSP2: whether it'll have the PSP Go's slide-out controls or go for the standard PSP design, the exact size and resolution of the (rumored) OLED display, and whether the main screen will be touch-sensitive. Also: will the PSP2 be backward-compatibile with PSP games? (This assumes, of course, that the PSP2 is a true, next-generation handheld platform, and not just a gussied-up version of the existing PSP.) Then there's the matter of when the PSP2 will arrive, and how much it'll cost. My guess is that if Sony does reveal the PSP2 at Wednesday's event, it will give us a vague release window (most likely "in time for the holidays"), with exact pricing and release dates to be announced at the E3 gaming confab in June. Personally, I'm pretty jazzed about seeing a new PSP—particularly one with dual analog sticks. The original PSP, of course, only has a single analog nub, which makes for awkward gameplay when it comes to first-person shooters. And yes, a larger display (four inches, maybe?) with a bleeding-edge GPU behind it would also be a welcome change—especially compared to those glitchy, artifact-ridden displays on early PSP 3000 handsets (one of which I own, by the way). The possibility of always-on 3G connectivity on the new PSP is also intriguing—although I wonder, would there be a monthly fee for 3G, or could it be gratis a la the Kindle? (Granted, super-sized game and video downloads take up quite a bit more bandwidth than e-books.) Finally, what about the price tag? Well, the soon-to-be-released Nintendo 3DS will sell for $250 here in the U.S., so I'm guessing the PSP2 will go for at least that much, given its (rumored) pumped-up processing power and (rumored) OLED display … so we might be talking $299 here. Yes, that's as much as a PS3 or an Xbox 360, but don't forget that it's also cheaper than an unsubsidized Android phone. So, all that's left is to get the facts (we hope) from Sony, which is slated to hold its press event at 1 a.m. ET Wednesday. (Rather than post the news in the middle of the night, I'll write up my impressions in the morningâ€â€or later in the morning, I should say.) Does this rock yes or no?