Peronthious
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Searched, etc.
Trailer
I have seen surprisingly little love for this game, especially at it's position and price point. It's a fully 3D, third person, arcadey space shooter up on PSN, and I challenge you to name a prettier PSP game on the service. The developers, Realtech-VR, have been pretty big in the PSP homebrew scene for a while, and this game in particular was planned for a public release through that route, I suppose until more information about PSN implementation on the PSP came out. I think it's great that they're getting paid for this release, I've certainly been having a blast with it. The story itself is throwaway (so much so that I can't even recall it now :lol ) but the gameplay is fun, mostly just flying around and shooting/dodging in SPAAAACE.
Quick summary: $9.99 PSP third person arcade space shooter on PSN, buy it.
Edit: Demo for those interested, works with custom firmware. Note that this is from 2006.