IF this is really £500, then I can easily pass. If it's $80 and it lets you load your own roms then it could be a step above the Dingoo A320 due to the clicky stick.
As for the PSP, the lack of a real dpad takes away some of the fun of playing classics (legally or not) on it. That was what made me so interested in the Dingoo when the chinese systems actually started getting good. Plus the Dingoo actually was a very portable system (close to the GBA Micro in size) and unlike the PSP the Dingoo had a native resolution of 320x240.
But the price, if true, is a dealbreaker. I'd rather just buy a cab for that money (or build a mame cab for less) and continue to use the Dingoo for portable neo fun.
So my expectations are super low... but I could be interested in the perfect storm of price, ability to add games yourself, other compatible emus being available, and so on.