A PSP update 2.0 is coming on Wednesday July 27, an update is coming! Talk about taking their sweet time, Sony is finally going to do something about browsing on the internet — officially.

Sony Computer Entertainment will release a system software update for its PlayStation Portable (PSP) next week that will add several new functions to the handheld gaming device, including browse the Internet and download TV programs, the company said Thursday.

TiVO-like functions on a PSP would be killer, but that’s too much to hope for. The PSP would make a killer vlog (vcasting?) device. The PSP has one of the brightest, best portable screens I’ve ever seen. Good sound too. I’ll admit it: i’ve been tempted to buy a few movies in UMD format.

But. Yup, there’s a but.

Upgrading to the new version will kill support for all those homebrew games. I wonder how many folks will buy a second PSP to upgrade?

Update: Browser will not have Flash support.