Along with a "review", we've also got for you tonight some footage of the (rumoured) PlayStation Phone's menu, game performance and screenshots of the thing in action.
First up is the phone's menu system, which as you can see here is able to switch neatly between "phone" mode and "PSP" mode when the PlayStation Pocket app is activated.
This clip serves two purposes: the first to demonstrate that when playing mobile phone games on the handheld, the PSP d-pad controls don't suddenly replace phone controls. At least, not on existing software, and not on this model. Secondly, it shows that the phone is able to run high-powered Android games just fine. Which, really, you'd expect.
The third video shows a loading time comparison between a game on the PS Phone and another Android device. While the PS Phone appears to load much slower, remember, this may not be the final hardware or software it's running on, so this performance is liable to change.
Here are the more useful pictures of the phone's menu screens, showing what the unit looks like when it's not in "PSP mode".
And here are a ton of glamour shots of the unit, showing it from all angles as well as in comparison with the PSPgo.