What is the .psp file format?
The PSP (.psp) file format is Jasc’s special format for saving all the information in an image without any loss. PSP files include each layer and all transparency information (including masks) that is generated while working on an image. They can optionally be compressed via run-length encoding or LZ77 encoding. While PSP files are ideal for saving complex images, they can only be viewed by PSP 5, so you’ll have to convert your images to put them up on the web or share them with people who don’t have Paint Shop Pro 5. A recent discussion regarding the layout of the PSP file format included a statement from Jasc that they are considering releasing the specs of the format, to allow other developers to write programs which will view .psp files.