Love
Graphics (compared to NDS)
Analog (it could be better, but it works for me)
Games
CFW/OFW(all it's features)
Accesories(Skins, Hand grips, screen/console protectors, speakers, audio dividers, GPS and more)
Hackability ( so, so easy)
PSN(I don't use it, but it's cool when comparing to NDS)
Plugins
Homebrew
Emulation capabilities
Hate
Shell (Too big hands, can't fit it well in my hands)
Shell material (high visibility of fingerprints, grease, dirts etc.)
Game repertory ( lack of originality/innovation - small selection imo compared to NDS)
Memory Stick Pro Duo ( expensive tech)
Filesize of games ( compared to NDS, you can pirate ~30games on 4GB card)
Battery (could play 6-8h in row in one night with DS, my brand new PSP3004 has to be recharged every 4hours or so)
Fan translations (lack of them - once again compared to NDS)
Buttons x,o,square and triangle ( the layout is odd, they're placed more above the shell than in normal PS controllers, making it hard to play fighting games)
Shell size ( Yes, it's light and it's small. In the year 2120 we'll have game consoles at the microscopic level? Cmon, enough is enough!)
Will have to check and modify some of my points in the hate section once I get my Hand grip delivered.
PS. I compared alot to NDS because I've had it since the launch and I've played almost all the serious games there are to it.