Yes, you can use this to pirate. Whoopdodoo. There are lots of other benefits you're overlooking.
- Running games off the memstick is much faster than waiting for the UMD to load
- You can fit several games on the memstick (some may be pirated, if you're a dishonest prick who wants the platform to fail). That means you don't need to lug a ton of fragile disks around when you travel.
- Not using the UMD means extended battery life.
This is really spiffy, don't get me wrong. But what I'd really like is an update to 5.50 firmware so the copy of Final Fantasy VII I just BOUGHT will play on my hacked PSP. I think all the PS1 re-releases from E3 require updated firmware, and that blows.