The PSP Go has had more than its share of press over the last couple of days since the announcement at E3. Like many other things at E3, many were left asking more questions than answers. While the sticker shock still has not set in for some, the lack of understanding how games will be released for the PSP Go has left more than one person scratching their head.

From what our sources tell us, games will be released for download on the same date that they ship. This is likely one of the biggest questions that many are asking. So, the news on this front is good, but what about all of the UMD games that you may already own? Sony isn’t talking about this at all yet, and maybe that is because they have not figured it out.

Those gamers that own large libraries for their UMD PSP games because they owned the previous generation of the PSP could likely find themselves either selling their UMD titles to fund the purchase of new downloadable PSP games, or perhaps Sony has a plan to allow the transfer of your UMD games to the PSP Go. If they have a plan to allow transfers of games you already own, they have not shared the details yet.

From what we understand Sony believes that the PSP Go is targeting the “early adopter” and it is possible that they might provide no backward compatibility path to get your games over to the PSP Go. In this case, Sony could lose out on sales to those who have owned the previous generation of the PSP. Moving to an all download model does present a lot of issues, and Sony is exploring ways for the retailer to be able to support the sale of titles on the PSP Go by selling what amounts to download vouchers for titles. We are not sure that this is going to be popular with retailers, but that is the price Sony is going to pay to move to an all download-based system.

One thing that we have continued to hear rumors about is the existence of an external UMD drive that would plug into the PSP Go. We suspect that if such a device did exist, Sony would have announced it as part of the PSP Go launch; and our sources claim that they know of nothing like this that is on tap for the PSP Go at this time.