The Killzone trailer was pretty cool and it's good to see the game finally coming along. Even though it's obviously toned done from that first trailer, it still looks pretty damned good. From what I know of the first game, I have my doubts about the game keeping the level of intensity of the new trailer up for an entire game and from the looks of the actual combat, that's probably going to hurt it. There's also the bit in the trailer where, thirty seconds after the big landing, you and a single guy are sent off to kill an entire army. If you're going to do stuff like that, what's the point of the big introduction with two big forces facing each other? I can't help but think they shot themselves in the foot with that huge trailer two years ago, much like Halo 2 did with it's long E3 trailer. Of course, Halo had a fan backing to save it; Killzone does not.
And the smaller PSP... yay? At least when Nintendo resigns their portables they do something more tangible like improve the screen along with battery-life and size.