Looks like Sony isn't just looking into more PS3-PSP interconnectivity. Down at CES, they demonstrated a new app on the PSP that allows it to run as a Wi-Fi remote control for networked audio streams, particularly those with the Sony-brand audio receiver line.
The app allows users to do several functions, like control settings, manage playlists, and browse the audio library via the PSP. The interface is typically the XMB.
It's still in its experimental stage, and a public release hasn't been confirmed yet. I can't get myself to be properly hyped up about it since the remote control feature is an old concept already explored by others, like Maestro Mini, so it feels a bit late in the game for Sony to come up with it. Still, it'll be a great addition to to the PSP's features so hopefully they release it to the public soon.