Reports from different Japanese sources confirmed different kinds of defects on the first shipment:

Button Pressed, but it never come back up


Dead Spot/pixels



Read it here(Japanese): http://d.hatena.ne.jp/sanchan/20041211


Dust inside the screen:



Analog Control Nub has Fallen off


Powered On but cannot start PSP (Japanese links):
http://amanoudume.s41.xrea.com/
http://blog.livedoor.jp/od3/archives/10595825.html
http://d.hatena.ne.jp/fukutake/20041212

(Video showing it: http://up4.upload-ch.net/src/up2372.mpg.html)

Twist PSP itself, UMD will FLY OUT (Videos) !
http://www.asahi-net.or.jp/~cf6y-oot/auto.amc
http://www.asahi-net.or.jp/~cf6y-oot/auto.avi

UMD Cover CANNOT CLOSE Completely:


#9 Ridge Racer BUG (Mini Game Rally X music Still playing when the Ridge Racer game starts)
http://home.megapass.co.kr/~ttf1513/a.avi

That's all for now.
Wait before importing.