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yup i've done it, just turn both your pes5's on and go to the psp link on the ps2 version and ps2 link on the psp version and it will send the data i now have the correct badges and names but only in single player mode
I have done it as well, as above turn ps2 on and psp, link together with usb cable, go into data transfer on ps2 and psp et voila!!
Only thing is though in all the previews it said you could use your psp to train tour master league team but I cant find my master league team on my psp, boooo!!