Hmm. Nice ref image. Not a bad bunch of work for 1 week in either.
Wow! Where to begin, where to begin.. Have you checked out any of the free video tutes yet? These are great. They cover all kinds of neat stuff, from setting up the image planes to modelling nice soft, organic curves to animation and effects and so much more. And that's just the ones that are free!
There's all kinds of ways to import the image. I'll just give you one of 'em.
1) Cut and then crop the ref image into 2 sep images.
2) Go to the panel that you can see the front of the psp in (top or front, I'm guessin')
3) In the menu at the top of that panel, go to View->ImagePlane
4) Select your image and you're off and racin'.
When you've done the front just go back to Viiew->Image Plane and load the image for the back. Turn your model over, and continue.
There's other, cleaner ways of doing this, that allow you to have both the front and back image planes loaded at once, but this is very quick + it works. You'll pick it up in no time with the tute vids.