Yes that’s right, Square Enix and Sony have made a bold move to release Final Fantasy III for the PSP.
The PSP version of the game is essentially a port of the Nintendo DS version that came to that handheld back in 2006. It’s due out in Japan on September 20th and will cost 3,990 Yen (approximately $50) on UMD and 3,300 Yen (approximately $41.50) on the PlayStation Network.
Further details note that the port will support a 16:9 ratio, “a gallery mode with BGM and illustrations, the option for switching to the original Famicom/NES music, and an auto battle option that doubles the battle speed to two times.”
Final Fantasy III originally came to Famicom in April of 1990 and shouldn’t be confused with the SNES iteration of Final Fantasy III, which was originally released in the west in 1994 and is, in fact, Final Fantasy VI.