Press Record.

PSP Video 9 is a free PSP video conversion and management application. It can convert regular PC video files (avi, mpeg, etc) into PSP video files, as well as manage/copy these PSP video files between your PC and PSP.
When combined with another application, Videora + PSP Video 9 form the first PSPcasting solution, allowing you to download, convert and copy video to your PSP, automatically using BitTorrent and RSS technology
PSP Video 9 was developed by Sajeeth Cherian, a communication engineering student at Carleton University eh.
Once your have the software installed, follow this guide for dvd to psp ripping and encoding
then follow this faq to setup your Memory stick.
-now someone buy me a PSP please.