Dungeon Explorer on the PSP is Dungeon Explorer in name only. It's a straightforward and rather bland hack 'n' slash dungeon crawler that wouldn't be all that bad if it didn't overstay its welcome (it's kinda fun in the beginning); but it's loooooooong and not in a good way with lots of differing content to enjoy. I gave up on it at about 90 hours, after perusing the internet and finding I was a bit less than halfway through. Yeah, 200+ hours of grinding.....
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There's some variety with occasional special missions and eventual big boss fights (each dungeon has a mini-boss, but they're nothing special), but you mostly play the same generic missions over and over and over again just to gain enough experience, and you won't stand a chance if you move on to the higher dungeons too soon. Pro tip: change classes as soon as possible to unlock the best classes (check teh interwebz). Better pro tip: play something else.