... and now you may be regretting it? Reading all the negative comments/blogs/posts about the systems lack of a UMD drive? Ignore them. Honestly. If you purchased the system for the express purpose of playing your back catalog of UMD games, that was a mistake. This system is designed for a specific audience in mind and with an understanding of the future of portable gaming.  For me, the PSPgo offers everything I want in a portable gaming system.   
     First off, the size. This thing is perfect in size. It is light weight and quite truthfully not much bigger then my Ipod Touch. This is a key factor for me as I plan on replacing my Ipod Touch with this (as far as an MP3 player goes). This allows me to drop the system in my pocket or a small pocket in my backpack. I can pop my psp out and play for a few minutes in between classes and work (being on campus at my college for about 10 hours a day between work and classes it is nice to take a breather every once in a while). Now of course I could do this with the old psp, as long as I had 5-10 minutes to waste getting ready to play a game. That is no exaggeration, I would have to shuffle through my library of UMDs until I find the one I want to play and then load it in the system and finally boot it up. Now while it can be argued that I would still have to look through a list of games on the XMB, it is much easier to scroll through them then dig around in some carrying case (which I would have to put the UMD in as I would not want to destroy my precise game).  
     As I said this system was designed for a specific group of people. This is not a replacement for the old PSP, this is just another option. This option is expensive though, I am fully understanding of that. However as Sony has said, you pay a premium for this system. The $250 tag comes with some great bullet points:

• Size, it is a great form factor, designed explicitly for my (and others) personal life style.
• No need for UMD. With the PSN being updated with PSP games all the time, why need it? Again, if you have a PSP currently... why did you buy a go?
• Pause. Yes, this is HUGE. The fact that I can play a game, then pause it, load up some music and walk across campus, then (upon getting to class far to early) resume the game is a huge bonus and just sings to the portability the system was made for.
• 16 gigs of internal memory. Yes this may sound like just a standard feature but honestly this is crucial. I can load up quite a few PSone games and PSP games on just the internal memory alone. The bonus is then expanding that via a card. Of course you can buy a card for your original PSP and enjoy some of the same benefits, however with the built in 16 I can buy another 16 and have 32gb, instead of being forced to buy a 32gb.