That's all I ever needed it to be. New characters, modes, moves and balance considerations are just gravy.
I'll confirm this works, I use it all the time for Monster Hunter. Hold the button down for ~3 seconds and it switches outputs.Oh, also, I believe holding the screen brightness button for bit while a video cable is connected switches the picture between the PSP and the TV. I've read that before, though I don't actually have a video cable at the moment to try it with.
I want that! >_<Well I just preordered the game (with a jazzy artbook and music CD) so I guess I'll be getting the PSP soon :)
Here is the offer at Gamestop http://www.gamestop.com/Catalog/ProductDetails.aspx?sku=190978