1. The ability to play PS1 games on your PS3 (you can download from the PS store and play the games on the PS3 as opposed to having to play on the PSP).2. You can plug in any PS1/PS2 accessory and it will work and work with rumble. This means that you can plug in a PS2 controller if you happen to have a PS2 USB adapter, and it will rumble in PS2 games. You also can use steering wheels and any other vibrating accessory.3. You can transfer your PS1 data to a PSP memory stick, and play on there. So you can copy your PS1 data to your PS3 through the memory card adapter, and then copy it onto a memory stick so you can have your PS1 saves for the PSP games you have.4. PAL backwards compatibility has been greatly improved (according to NeoGAF). One user reports GT4, Devil May Cry 3, MGS2 works, Gradius V, Jak 3, Soul Calibur 3, Ratchet and Clank 1 and 2, all are outputting at 576p as well.5. If you press triangle on your login (if you have multiple logins) you can set which one you want to auto-login.