Even if you had both mods done I find it doubtful that whatever your doing with your psp that you would even lose 5 minutes of battery time, LEDs require almost no current, especially when there small ones
Anyway yes its very very nice, Im planning to buy a cheap-o second hand psp and try my hand at sticking shiny lights various places...only i will use the vastly superior color of green! :D Hooray for a degree (in progress) in electronic egineering