Yakuza 3 or 4. Nope, this is "Project K," an upcoming Yakuza spinoff for the PSP. Famitsu has the first screenshots of the game in action, and we have to admit, that they look a bit too good to be true. At first glance, it's easy to mistake this screen for a photograph of a Japanese city.
Assuming these screens haven't been touched up in any way, we're glad to see the PSP is still being pushed technologically by developers. Even if you aren't particularly interested in the Yakuza franchise, these images are worth checking out.