Louie Iturzaeta has released a working demo to share with you of a future bassline synth feature, heres whats posted in the read me:
This is a simple demo of a drum beat and a bassline. The bassline
was created by hacking the wavegen SDK sample (creates a tone that
can be modified with the analog stick) and using a ADSR envelope
that I found here: http://www.nuim.ie/academic/music/musictec/
to turn the notes on/off.
use the analog stick to bend the pitch and the x button to change
from a saw wave to a square wave form.
So what does this mean? A synthesiser is possible on the PSP!
If you have trouble getting this to work on a 1.5 copy the
"BASSDEMO 1" folder first to your PSP and then the other.