Yes. Three years after the final "fix" patch, the is no longer a curiosity or a challenge run. It is a legitimate way to experience one of the most influential games ever made.
To date, there has been no official announcement or confirmation from Rockstar Games or Sony regarding a GTA III port for the PSP. The game remains available on various platforms, including the PlayStation 2, Xbox, and PC, through re-releases and digital storefronts. gta+3+psp+port+fixed
Obtain the "Seen in Liberty City" ISO from authorized community sources like the Barco Studio site . including the PlayStation 2
: To run on 32MB of RAM (standard for PSP-1000 units), some visual and world simplifications were necessary compared to the original PS2 game. gta+3+psp+port+fixed