like the ps3, i dont think the psp capable of connecting to an ad hoc network. what i do is feed my ics from the mogul into my router. the router then transmit to anything that connects to it. its a very simple setup.
1) setup wifirouter to connect to an access point only (NOT ad hoc);
2) disable DHCP in your router;
3) launch wifirouter and select 3G to Wifi;
4) connect your mogul wifi to your router.
now all other device should be able to connect to your router and access the internet. this is how i setup my ps3 and works great.
here is the full tech documentation:
http://support.wmwifirouter.com/knowledge/KB0806019/
of course i realize that this will not work if you are traveling because you can not bring your router everywhere.