I found a homebrew app that can do (or what it seems) playlists =D
It's called VisMp3
I'm having trouble with it though, and most of my homebrew kinda crashes on me. It would freeze my psp and then it would turn off. Lol, I thought I bricked it, but it would always turn on. Is it the homebrew itself or my psp? I'm using 5.0 M33-4.
On another note that's unrelated to the music software, I had this other homebrew app (PSPTube) but most of the videos I played were really choppy. I don't think it's my wifi connection because it plays fine on COD4 on my ps3.