http://media.putfile.com/halo-for-psp look at this. Who thinks this is real or fake.

No doubt it is fake.

It could be one of a few things.

1) An Xbox console wired up to the PSP screen.
2) A ROM of Halo running on the PSP (probably not).
3) Someone is showing off a copy of a Halo game on PSP without permission. Which is entirely possible, since Microsoft isn't in the handheld battle and they could likely put a game of theirs on a handheld without bringing out their own. I've seen the same strategy done before, though I think it had to be done with a third-party developer.

Its a fake, some guy at the psp-hacks.com made this by using his actual game to record a movie. He put the movie into psp-format, played the movie and used the lock feature on the psp.