[quote name='Rodimus Donut']^ But most of those games suck...[/QUOTE]A lot of those games are good. I bet you haven't played them.
PSP without a doubt is my favorite, but I expect to hear a ton of DS support due to this site being very anti-Sony (For years, you hear people complain about getting a PS2 version of a game, consistent PS3 hate, and you always hear people bashing PSP in the PSP forum).
For one, loading isn't all that bad, from the 27 games I purchased. Some games I played, the loading may be a little bad to start the game, but after that, the loading isn't too bad. Most games, the loading is abotu 10 seconds. Anyone who can't wait an extra 10 seconds every once in a while, has a problem IMO. The only game that I played, that has bad loading times, is Ape Escape On The Loose, where the game loads every section of a level, for a long time; however, the game Daxter has next to no loading.
The biggest reason why I gave PSP the edge is hardware. First off, I absolutely love changing my wallpaper, since it gives my PSP a personal touch (normally I put up an RPG wallpaper). The PSP has an internet browser, MP3 music player, video player, photo storage, etc. I also like how it uses memory sticks, because they can be bought cheap now. I give the UMD format the edge over cartridges, because you get superior sound quality (similar to a CD) while you get okay sound out of the DS, and it forces games to be saved externally, which is a good thing. I like how games are saved to a memory stick, for I can save multiple modes of games, back up my data on a PC, and even download a game save. Plus, if I borrow or rent a game, I can start back at where I left off, instead of restarting the game, since I must have the same cartridge to continue. With a DS, it's strictly gaming. If I don't feel like gaming (which is sometimes the case), then I can't do anything else because that's what the DS is made for.
As for the games, IMO, PSP games are better. I have not found any games on DS that's anywhere near as good as Daxter, Hot Shots Golf Open Tee, Mega Man Maverick Hunter X, Mega Man Powered Up, Metal Gear Acid 2, Ridge Racer, Syphon Filter Dark Mirror, Tekken Dark Resurrection, Valkyrie Profile Lenneth, and Wipeout Pure. My favorite DS games Advance Wars Dual Strike, Mario Kart DS, Mega Man Battle Network Double Team, and Sonic Rush do come very close though. However, I will admit that I have NOT played Phoenix Wright Attorney, because I cannot find it.

But, I'll put it this way, I do NOT like many Nintendo first party games at all (Except for a Mario Kart, Wario Ware, Intelligent Systems games, and a Camelot game. I do not like Zelda, Metroid, most Mario's after Mario 64, Animal Crossing, etc. much at all). I do like most of Sony's first party games (A big reason PS1 and PS2 were my main consoles during their respected generations). As for the games being $40, I rarely see it on PSP. I can get PSP games on sale often, price drops, GH games. Anyway, I rather pay $40 for a console quality game then $30-$35 for a short game that may never drop price (I'm talking about your games Nintendo, since I hate how you rarely drop the price on your games, which aren't worth more than $20 IMO). Some may say the PSP is nothing but ports, but that's a huge myth. Yes, it has some ports, but they are great (some are remakes or improvements that make the previous version inferior, like the Mega Man remakes) to have, along with some original games. IMO, the PSP has a good mix of games, making me very happy.
I bought a DS in December 2005. I enjoyed it, but without a doubt, it didn't put a single dent into my PS2 play time. But, when I got my PSP in April 2006, I absolutely loved it, where I found myself wanting to buy more games and play it everyday. It's the first platform I ever purchased to put a huge dent in the PS2, where I usually play PSP 65% of the time right now, due to having the most fun with it. I still love my DS, where it's my third most played console/handheld right now, but the PSP is for me. But, I'm thinking the DS will get better later this year, where my opinion might change, with games like FFIII (I want it more than any PSP game this year), Magical Starsign, Mega Man ZX, Castlevania: PoR, and Children of Mana.
I say try to get both, because the complement eachother well, but if I could only have one, it would be PSP.
Also, I'll admit, the DS does have a stronger Fall lineup of games; however, that makes up the weak Spring/Summer lineup of the DS, that the PSP did very well. So IMO, that balances to two out.
Also IMO, the two really shouldn't be compared, because they are both very different and aim for different markets. The only thing they have in common, is that they both play games.