P3P is a faithful port of Persona 3, though a few changes have been made in the name of disc space and gameplay pace. This more noticeable change is the lack of animated story sequences. These are instead replaced with static scenes with voice-overs. Considering how quickly the game bounces from intro to playtime, I like the idea. Animated sequences are cool, but not when you're on the go and have limited playtime.
In-game visuals are nice and remain as true to the PS2 version as the PSP can. I've always liked the series' toned-down anime feel and was happy to see it translate as well as it does. There are a few noticeable spots where you'll expect just a little more visual kick, but overall, everything looks great.
I'm a little disappointed P3P didn't ship with some sort of soundtrack (though it does come with a killer Junpei baseball cap as pre-order bonus). Music always fits the mood perfectly, yet also manages to sound completely out of place thanks to the upbeat techno feel.