Deserves the highest rated PSP game status.
It's really a great game with very few minor flaws. For example the motorbikes having a bit too much force compared to real life - you won't see motorbikes pushing cars, now will you.
What's cool and new is the ability to buy and sell drugs to gain a profit, but be careful - the cops might be waiting for a bust!
Here's a IGN review (gameplay video) - http://www.youtube.com/watch?v=70KpZn2cNGY .
I disagree about the ''iffy minigames'', they're all really fun to do and the loading isn't bad if you put the game as .iso or .cso in your memory stick.
Bottom line - this game is a MUST HAVE. If you're a GTA fan or just looking for a new game to play - buy it asap.