You heard right, folks – after Sony promised it at E3, those of you with PSP’s in Japan can now directly download movies, television shows and more via Wifi on the Playstation Store without the need for a PC or PS3 connected. Pricing is conservative – for example, the Beck anime is Y200 an episode, Toro (the animated movie) is Y500 for SD and Y600 for HD. 72 hour rentals are available for some content, and you can transfer video purchases from your PSP to your PS3. This service has not yet come to the USA/Europe, but should hopefully come soon. In the past, the only way to download movies from the Playstation Store onto a PSP was to either have your PSP connected to your PC and use the Media Go software, or via the Playstation Store on PS3.
From what I can tell, 90 titles are available at the moment but Sony plans to bump that to a thousand soon with a large focus on anime. This number has not been verified, but they definitely have quite a bit of content so far including Gundam, Macross, and more. I can definitely see rentals being attractive to PSP Playstation Store video consumers, as you could probably max out a memory stick duo pretty quickly.