Sony has launched a movie and TV downloading service that will bring Playstation 3 and PSP owners standard and high-definition video downloads. The service is now live featuring films from almost every studio including Fox, MGM, Lionsgate, Warner, Walt Disney, Paramount, and Sony Pictures. One advantage PSP owners have is the ability to transfer all video downloads to their handheld device using a USB connection.

The service can be accessed through the Playstation storefront, where you'll find television show starting at $1.99 per rental, and over 300 movies in both standard-definition and high-definition formats going for $2.99-$5.99. Movies can also be purchased in standard-definition for $9.99 and up. According to a Sony press release, consumers will have 14 days to watch any rentals, and 24 hours once the video starts playing.

The store is easy to navigate, but the movie selection is not that great. Some of the titles under "New Arrivals" included older films such as "Good Luck Chuck" and "Lake Dead." Downloading a full-length movie will take about an hour, but thanks to progressive download feature, users can start watching a movie once it begins to download.

I suppose this is a good option to have if you want to watch movies and TV shows in high-definition, but I hope the selection of new releases improves with time.