The Action Replay Max for the Playstation Portable has arrived. Like the Xbox Action Replay, the PSP version will actually just be an enormous collection of "PowerSaves" instead of actual cheats. With the saves you will be able to do things like start the game with infinite health, lives, all characters, every level open, yada, yada, yada. The pack, which includes a 64 memory card, USB cable and software, is selling for $40.

I recently purchased Action Replay for my Xbox (cough Hot Coffee cough cough) and was greatly impressed with its ease of use and mammoth library of saves. But despite the streamlined process, I haven't used it a single time after wrapping up my GTA playing.

Press Release: Action Replay Comes to the PSP [Games Industry]