Kudistos Megistos I think your pretty much right there (i am also no expert but your opinion is pretty much the same as mine).
Could you get it to run on a PS2?
not without a emulator (which doesnt exist), And i also dont think a PS2 would be powerful enough either.
you're saying the ps2 isn't powerful enough to emulate psp?
it certainly is, only problem is there isn't an emulator.
well i was under the impression the PSP is clocked at 333Mhz and the PS2 was 299Mhz so i didnt think it would be capable to emulating it (well not at a playable speed anyway) But like i said above i an expert so i very well may be wrong, I dont own either so i am unsure.
psp is indeed clocked at 333MHz and the ps2 is indeed clocked at 299MHz, but the ps2's graphic engine is much more powerful than the psp's. also, the ps2's cpu is much different than the psp's one, as in it's much better (more cores with different tasks, etc.)
i'm not an expert either, but the psp is a ps2 made worse as far as i can see.
http://jpcsp.org/
it says there, "it can run a few games at a decent speed". by few i get it as 4, 5 and by decent speed i get it as, what 70%, maybe 80%.
EDIT: saw the compatibility page, it displays 7 games which aren't very well known (astonishia story, bust a move deluxe, breath of fire 3, blokus portable: steambot championship, puzzler collection, puzzle quest: challenge of the warlord, super fruitfall) most of which (if not all) don't run at full speed and still have several issues.