I'm actually really surprised at how much milage they got from the PSP.  I don't know how they did it but VC2 feels like a deeper game than the first and it feels like a lot less time is wasted on traveling across a massive map... actually I love the way they implemented gateway camps. 
 
I hope they go back to the PS3 as a platform for the next game, but if they don't I won't be nearly as disappointed as I had thought.

I was afraid since they were going with a school setting, everything would become kind of cliche, but all those fears were quelled pretty quickly once i got into things. Ive also been pleasantly surprised with the tweaks and improvements, especially with the character development for squad members. Its still kind of basic, always just 4 cutscenes then a mission, but thats leaps and bounds better than a progressing text overview and some basic mannerisms in the battlefield.

Yeah it really has improved over VC1 in so many ways despite being on the PSP. At first I wasn't sure about the smaller battlefields but its brought out alot more tactics, especially with all the new classes. Not to mention all the customization that was added. Just sad they havn't changed the ranking system, marking on speed still doesn't seem right.   
 
Also seems Sega will continue to support VC2, announced the first dlc today, along with an unlock code for a playable Isara (she's a Tech, no Edelweiss sadly).