Not sure who was really first with this, but it seems like this bit of PSP lore is emerging simultaneously from multiple sources as folks discover it. There’s a fairly simple way to achieve multi-player gaming on two PSPs using a single UMD disc, by starting the game on one console, starting an Ad Hoc Multiplayer game, then hot swapping the disc to the other device. It’s apparently working for Tony Hawk, Twisted Metal, and Ridge Racer with perhaps a few protocol tweaks here and there. More complete instructions via the Read link.

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"Everything should be made as simple as possible, but no simpler"
- Albert Einstein