@Nesteris, it would be quite difficult, but it'd be interesting, and worth it in the end, I'd assume.
@R0j0hound, You're right, and I believe the same problem exist before now with a similar project. I think I might start from that, using v8 and sfml for testing, but I will also try to look for more open source projects that pertain to the same idea. It's unlikely that I'd be able to port v8 to even PSP very effectively, but I'll try, regardless.
I haven't got the chance to actually look into the code that make up the exports yet, but this should be fun. I mean, it couldn't be any harder than doing the same thing if I were to design my own engine. The only thing that'd probably make this different is the fact that this is more interesting to a bigger collection of people than designing my own engine would be, and the fact that this would cut out the rest of the work load.
I'll keep looking into this, and I'm particularly interested in what kind of information @Ashley might be able to add to this if he wouldn't mind reviewing the topic. I want to know my limits fully, and he could probably give me the best possible answer.
Needless to say, once I learn more and find if it's possible I'll make a working example, even if it's not the best.