Akihabara News have the news of some new media recorders that will let you hook up the PSP and record directly onto the PSP. Heres the info:
Sony has announced 3 new HDD and DVD Media Recorders today: the RDZ-D97A (400GB), the 77A (250GB) and the 87 (250GB). The 97A and 77A have a digital and analog TV tuner that allow you to record 3 shows simultaneously (1 digital and 2 analog). you can also connect your PSP to these Media Recorders and record straight onto the gaming console. The 3 models are DLNA compliant so you can connect these babies to your local network and share videos and pictures on other products.