PSDeveloper
Version - BETA of many more to come...
Developer - StealthX
Homepage - http://www.teamrelyt.com/
YOU DO NEED THE .NET FRAMEWORK!!! Download it from Microsoft
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Installation -
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Extract the 'PSDeveloper' folder to your C:\
Extract the 'PSDeveloper Install' anywhere you would like
Run the setup.exe
PSDeveloper will execute, and give an error message about missing and corrupted setup file. 
Go through the setup, and your done!
Enjoy!

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What the BETA version features -
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1. Insert common, media, and net headers. 
2. Insert callback routines.
3. Example codes of Hello World and Displaying an image to the PSP.
4. Allows for basic file operations

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What you should expect from PSDeveloper -
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1. Syntax highliter for better, and easier coding
2. Makefile maker
3. Auto define function (defines everything in your code, so you can understand what your doing better)
4. SmartBuild funcion - allows for compiling and testing straight off PSDeveloper
5. More code examples
6. Way better GUI
7. Less bugs
8. More, way more.