Just to clarify, the details for the PSP Phone are as follows: (nicked off various Chinese sites) and I've added some links to the components so you can take a closer peek.
Actual Name: Xperia Play
Launch: Around April 2011
Price: $499.99 (¥45,000)
OS: Android 2.3
Processor: Qualcomm MSM8655 SnapDragon
GPU: NVIDIA Kepler (which wasn't due out until 2H11, so someone got a wiggle on, or the leaked date is wrong)
CPU: Adreno 205 - this is also a GPU, so the leaker is all over the place here, or translation is failing.
External storage: MicroSD
The following translated text also rambles on, if you can figure out a clear meaning, good luck:
PlayStationStore only available for download to PSP, such as titles and HomeBrew AppsAdopted as the main display touch screen Android can do, similar to smart phonesPSP is equipped with a standard emulator, PSP compatible emulation by invoking TitleLaunch in February at Mobile World Congress officially announced