I can't say much about the TSP/PSP because I have not been through their training, and their official web site has minimal details about the methodology - odd, considering that they charge money for the training (heh).
What little I do know makes it appear to be a very heavy methodology, requiring significant investment by a whole organization. This makes it a difficult methodology to introduce into a company for just a small group, and almost impossible bring in from the bottom up, since the training requires managerial approval, and costs $1000 per head for the initial course (as of January 2006).
The one anecdote I have about this is that one developer of my acquaintance was on a team scheduled to take the PSP training. Management was told that they were expected to attend, offsite, and turn off their cellphones during the training, to show that they were committed to the new process, and to make sure they understood the training.
The management agreed to the offsite, but not to turn off their cellphones. Less than halfway through the first day, the upper mamangers were out of the classroom, taking calls. So much for commitment.
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