What are the advantages of owning a psp?

I'm thinking of buying my kids one. They've been nagging me about it all year. Money's not a problem, but I'm worried about how it will affect their concentration and eye sight and such...
Why should I get them a PSP?
What else should I get them, or what should I get them instead?
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1) There is really no advantage in owning a PSP or any other gaming machine. All of these are money sinks since you need to constantly be buying new games (one gets very bored quickly) and accessories.
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Kids can certainly improve eye-hand coordination, but other than that, they are pure entertainment.

Books are always a better alternative, but not as much fun. If you buy a PSP3, the family can also use it as a Blu-ray player.
2)well it offers them to be able to watch movies and listen to music easily and on a nice screen, they can get on internet at any place with a wireless router, some aren't supported but a lot are. games are nice and keep them busy on car trips. i would wait until october 1st to purchase the newest model they are going to release called the psp go. it has internal storage so they would be no need to buy memory cards, and has a cool sliding screen, but doesn't have a disk port for games, but you can download them off playstation's online store. i enjoy my psp's, but some people don't like them. psp's are always updated, so sony can maybe get more features in the future that will be amazing, but i can't promise anything. my eyes are still great and i play all the time, i've always had concentration problems, so i can't really help you there haha.
3) The PSP may just be one of the ultimate multimedia devices around.
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watch movies
internet
music
games (which can be downloaded if you MOD your psp)

If your kids are under the age of 7/8 then you can get them a Nintendo DS. The DS is less high tech than the PSP but its games are more child oriented such as the whole Mario franchise.