ITT people never even saw this baby in action.
I'll tell you all something, I got one for cheap and it looks amazing. Now, the small size and fact that I have to hold the PS1 make it inconvenient in a world where I have a PVM and switchboxes, but the image quality of the screen is superb. The speakers shocked me too, although headphones is the way to play, because they're loud and clear but not tinny. There's almost no ghosting, the graphics look sharp, and the colors are vibrant, not at all washed out like a GBA SP.
Basically, don't spend tons of money for it but don't pretend it's worthless like the ones MadCatz had out for sixth gen consoles.