If you want to experience the 2012 season on your handheld, your best options are:
WWE '12 marked the end of the SmackDown vs. Raw series branding. While the PSP version was essentially a scaled-down port of the PlayStation 2 version, it successfully implemented the new "Predator Technology." This engine overhaul promised smoother animations and a more fluid gameplay loop. For players utilizing the ISO on their PSPs or emulators, this transition is immediately noticeable; the characters move with a weight and realism that previous iterations lacked.
To play WWE 2012 PSP ISO on your PSP, you'll need to have a custom firmware installed on your console. Here's a step-by-step guide: