The Xperia Play will be pre-loaded with an unknown "legendary" PS1 title (psst! -- it's Crash Bandicoot), along with a smattering of launch content -- but it won't be loaded with all that PlayStation Network content you've purchased. Speaking with GameSpot UK, Sony Ericsson UK managing director Nathan Vautier confirmed, "[Xperia Play owners] will have to repurchase the games, so it's not totally integrated."
Beyond the Android Marketplace, Xperia Play owners will purchase content through the PlayStation Store; access to said store will come via Sony's PlayStation Suite, launching "later this year." Unfortunately, it seems that content you've already purchased -- say, PS1 titles that will also be available for purchase on Xperia Play -- must be repurchased for use on the handheld. We can't say we're super surprised. Or mad, even, really. Just disappointed.