lol its all good to be a Dreamcast fan :p I was not making fun at that fact, in fact, I think its funny that every time there is a "well the PSP is more powerful than the DC" youre there setting the record straight.
But you do have several good points about the Sega CD emulation on the DC and the PSP, I think that without sound, it is possible on the PSP, and in order to get sound the roms would have to undergo some conversion (much like the NeoGeo an the CPS emus) to dumb down the audio to make it usable.
I think sega should make the DCP. DreamCast Portable and then it wouldnt be Apples and Oranges. (btw, i firmly believe that Sega will be a pheonix and rise again!)