Yes, but maybe not for all, a Modder(Modifier) has taken a PS2 and put it in a much smaller form, as you can see, but see how he did it in Details.
@TatWza

I know PSP is a mobile of PS2 graphically but there are some title that don’t match up, cause PSP doesn’t have them, so this mode is cool for all your PS2 titles, even though PSP just dropped to $129.99(instead of $199.99) but just remember, by December PSP2 Will be in stores!!

Which Do You like the most???