The golden compass is not the best game for the PSP, but it certainly deserves more than a 2.0.
When you play as Lyra, you have Pan with you almost the whole time and you must solve diffrent puzzles which can be fun, but can also be a bit boring. Probably the best thing about playing whith Lyra is, that you have the golden compass in your possesion for the whole time. Whith it you can solve diffrent questions, some you must solve and some you can solve if you want to know a bit more about the plot, but there is no penalty if you don't. You can also found clues about the pictures in the compass during the game, which is pretty helpful, because if you don't know what the symbols mean, you must take a wild guess when you play the compass mini-game.
Now, when you play as Iorek, there is no more puzzle-solving, only beating up your enemies. Here you have a few attacks, but not that many, so the game can get a bit boring after a while. The good thing is, that as you progress, you get more moves and special-moves which is OK, but it can still get a bit repeated after a while.
So, in the end it's not the best game for the PSP and if you're a hard-core gamer you probably won't like it. But if you're looking for a bit of fun and problem-solving, then this is the game for you.