Four PC Engine games have been confirmed for the Japanese PSN: Bomberman '94, New Adventure Island, Sengoku Mahjong and Devil's Crush. They retail at around 600 yen which is a similar price to the Wii's Virtual Console.
It seems to be a bold step from Sony in building the Playstation's own Virtual Console type service. The big advantage here is that games can be played on the PSP too.
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