Our crew out in Japan gave us the 411 on the P-TV video download feature; it seems that all of the content currently being offered on P-TV is anime clips and movie trailers -- nothing full length -- and it's all free. Think of the iTV trailer blade we saw at Apple's last big event. One accesses the P-TV store via the PlayStation browser -- there's no in-system interface (lame) -- wherein users can snag H.264 video to their internal drive or a USB drive. Thankfully, the video is un-DRMed and can be played back on a PC, although it doesn't really matter since it's mostly promo stuff anyway. Apparently there's also an account registration and payment method screen in with a shopping cart interface in the PlayStation Store, so it's entirely possible full-length downloads might happen in the future, a la Xbox Live Video. But for now, it's all about quick clips and trailers, with no option to buy the big content.
This last one is the PlayStation Store. Nice!