According to Hardcoreware they found that the latest PS3 firmware which is currently 1.8 allows you to stream Windows Media to your PSP wirelessly. This is achieved by using the Remote Play feature which allows you to view all the streaming functions on the 1.8 update. Unfortunately I have not had chance to test this my self due to not having a PS3, but for those who cannot wait another month for the PSP firmware update you will have to use the work around mentioned.
Check out more details over at Hardcoreware as they do say they have something extra to share if you subscribe to their feed. I think I will go subscribe now to see what its all about.
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