I know, I'm buying a pre-owned one from an eBay retailer. it's US$119 with $10 shipping.
So, a few questions here - what're you doing with your old PSP? I could use a test system to hack, and I may just be able to fix it - I work for an electronics repair shop..
I'm gonna try to clean off the button-circuit-pad-things (where the buttons register contact) and replace the analog stick, and my brother will pay me $60 for it. If not, I'll try sending it to a professional repair place, then sell it to my bro, and if even that doesn't work, I'll sell the parts that do work.
Good luck with that. Here's hoping - hate to see a PSP wasted.