psp ps one software

I was wondering about this, is it possible to use their software that they are going to release and convert your ps one games?. With version retail 3.4?. Like copy my ps one collection to my pc then use their converter. I know its made for ps3 to psp, don't have a PS3. If you already own their dam ps one games, why would you need to re-purchase it through ps3.... Gad i hate sony, and their reselling tactics, same with wii and others.
Ah well....