This is quite simply THE best mp3 player for the PSP. I've been using it for ages and it just keeps getting better with every version..

LightMP3 version 2.0.0 BETA2
created by Sakya





changelog:

-Added: Switched to OSLib MOD, now supports intraFont
-Added: New skin system (now all the elements can be moved, see skin.cfg)
        Font is defined in the skin.cfg file
-Added: In the Media Library you can play a track pressing CROSS (like in the file browser)
-Added: You can rate your tracks in the Media Library (CROSS + DPAD UP/DOWN)
-Added: english, italian, portuguese, russian language
            Many thanks to fabiom, coach777, Magic PSP
-Added: help (press L + R)
-Added: you can add selected playlist to the current one (press START in the playlist browser)
-Added: Directories are marked with a leading "/" in the file browser
-Added: You can check a playlist with triangle (removes dead-links)
-Added: option for keys autorepeat interval
-Added: "Top 100" in media library
-Added: Option to enable/disable splash screen
-Added: "Borwse All" in media library
-Added: Cover displayed in file browser and in Media Library (stay 0.5 seconds on an item).
        Works only with folder.jpg and cover.jpg (doesen't read coverart from ID3v2)
-Added: Display now fades in and out when you toggle economy mode
-Added: Music pause if you remove the headphones while listening to a track
-Fixed: Playback of mono MP3 using libMAD
-Fixed: Faster navigation between functions
-Fixed: crash in playlist editor when press UP, RIGHT or NOTE on an empty list
-Fixed: stop FLAC playback
-Fixed: Analog was working also in HOLD
-Fixed: Minor bugs

Download: http://sakya.altervista.org/new/index.php?mod=Downloads
Forums: http://www.sakya.it/forums/viewforum.php?f=4
Skins: http://sakya.altervista.org/new/index.ph...&view=list

Note: Install the application in your GAME3xx directory or be sure you set kernel 3.x for the GAME folder. If you run it under kernel 1.50 it will crash in some circumstances.
Tested and working on CF 4.01 M33-2.