Not played FIFA on the PSP the version of PES I tried was ok (unlike the woeful DS incarnation).
From what I can remember it was fairly similar to the PS2 version but the controls were obviously simplified and the commentary / audio was very limited....and loads times were very long (unless run from a memory stick). Whilst that all sounds pretty negative it did actually play a decent enough game of football.
The current version may have resolved / reduced many of these issues.
ps. like the PS2 games there are option files on the 'net containing proper kits / latest transfers etc.
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