Good news for Sony PSP owners, the new PS3/PSP firmware update, enables PS1 games to be played on the PSP device, through a new “Remote Play” add-on feature.

Once you installed firmware version 3.40 to your PS3 console, you can download any PS1 game into it (via the online store) and play on the portable PSP with the remote play application. In addition, the new firmware adds DivX and WMV video support to the PS3.

[via gizmodo]