Samsung is releasing a gaming phone, the SPH-G1000. No company has managed to do a great job of this so far, but they keep trying. This one won’t have the PSP worried, but that isn’t really the point. Games look darned good with a fairly big 2.2 inch QVGA LCD screen and the best 3D accelerator in the industry. They sound great, too, with dual stereo speakers. The vibration capability of the phone can be incorporated into the gaming experience. The controls include a dedicated joypad that is ergonomical and effective. There is even TV-out to offer you more options and it supports wireless gaming.
It works well as a phone as well. It has a 1.3 megapixel camera with flash which can shoot stills or record videos in MPEG4 format and an MP3 player.
The SPH-G1000 isn’t for hardcore gamers, but I guarantee it plays games better than your current phone. Even if you want one, though, you are probably out of luck. The phone is only available in Korea and there are no plans yet to bring it over the ocean.