Which one is your favourite, PSP2 or Xbox.
Mine is Xbox since I find it easy to use and is not complex.
It is cheaper and comes along with loads of features.

I think you shouldn't compare a PSP 2 with a console xbox. PSP 2 is new model while xbox is old model, unless you means xbox360. In this case i will surely choose for PSP 2 with new games, while xbox is already obsolete in the market now.