"High-level sources" have revealed some tidbits about the rumoured PSP2 to MCV, saying that we can expect Sony to start outlining their handheld plans for 2011 shortly after Nintendo have shown the 3DS in Amsterdam and New York next week. According to MCV, Sony have told their licencees that the machine will be "as powerful as the PlayStation 3" and it's rumoured that it is set for launch in the final quarter of this year - perhaps even as early as October.
Sony also seem to be moving away from the digital-only model they chose for the PSP Go, instead opting to have some form of physical media so that retailers get in on the action. PSP2 is said to have some form of PSN-store for smaller, downloadable titles though.
More news should be expected at GDC and E3. Also, PSP2 is a separate project from the Playstation Phone that Sony Ericsson reportedly is working on.