"a system which allows PSOne/PSP games to be played on any Android mobile"
Correct.... the software will be capable of this HOWEVER I fully expect that this will be tied to the Play Station Store with all it's "mini's", PS1/PS2 games plus movies. No way are they going to spent time creating the software platform and then just leave the door wide open for anyone.
As a second point it would make sense to open this up to any Android device but I've not seen anything yet which suggests this. Also other mobile wouldn't have the controls so how do you cater for that ? Yes it's possible of course and I would much rather this isn't limited to just this phone but I think it will be and I've not seen anything yet to suggest that you'll be playing PS1 games on your Desire !
Usual wait & see game as we're drip fed info to keep the publicity....