If you want to stay 100% legal, buy a used UMD, dump it using a hacked PSP or a compatible disc drive, then compress it using software like UMDGen or CISO . However, for most users, the highly compressed versions available online are for "backup purposes only."
Here is the critical part. The original UMD (Disc) size for WWE SmackDown vs. Raw 2011 is roughly . A standard ISO rip is about 1.2 GB .
This game is packed with creation suites: Create a Finisher (design your own signature move), Create a Superstar, and Create an Entrance. The freedom is immense for a PSP title.
Find a compressed ISO file from reputable gaming community sources.
The wrestling community is still active; you can find updated save files with unlocked everything (legends, attire, arenas) to paste into your PPSSPP/PSP/SAVEDATA folder.