Let's face it: there are no surprises here. The title alone should tell you all you need to know about this, namely the Marmite of games running at 60 frames per second in 1080p.
It looks rather glossy and plays exactly like all the other WipEout games, especially since the tracks are taken from previous versions and the teams are nicked from WipEout Pulse. And it'll do very nicely indeed until PS3 gets a true, new next-gen WipEout game.
If you already have Pulse on PSP then there's very little reason to splash the cash on this, other than the chunkier analogue stick being easier on your thumb than the handheld's awkward nubbin.
For an even greater challenge, you can also control your ship by tilting the Sixaxis, but at the speeds these ships fly around the narrow tracks, it isn't something I'd recommend. In fact, ditch it right away. The Sixaxis isn't your friend here. Stick to the old-school set-up where the sticks and shoulder buttons are the only things you need to worry about.