Domestically (Japan), both games bombed. Each title sold around 20,000 units each, certainly not enough to recover their big budgets. (Low number was partially due to a low PSP adaption rate at the time, plus the target audience was not on the PSP)

However, in North America and Europe, both titles did fairly well. Unfortunatly, Capcom of Japan is known to look at Japanese sales to determine if a series will continue or not. Currently, their are no plans for future remakes

Bah, it did that badly in Japan?  That sucks.  I can't say I'm surprised though, the PSP always seemed very slow to build support of any kind.  Perhaps the suits could be convinced to give them another go as downloadable games?  I should actually get back into making MMPU levels...  I never uploaded any, but I did have a lot of fun working on them.  Brought back the days when I was a little kid drawing new MM stages on paper during free time at school. XD

I was crushed when the Powered Up series didn't continue.  Mega Man 2 could've followed me everywhere I travel.

Classically-styled remakes are becoming very popular again, though.

I thought both games didn't sell as well here either in North America. Does anyone have some NPD data to show how it did do?

Actually, I really liked the MHX soundtrack, though yeah, the original felt much more "Metal" to me. Then again, I think maybe that was the direction they tried to take with Vile. I'm still surprised how fun MHX was, considering it was my least favorite of the original SNES X games (though I still loves it on SNES, just wasn't as good as X2, or especially X3).

Powered Up, though, was just purely awesome. I'll be honest, I downright hated Mega Man 1, with the exception of the music. Powered Up changed all that.. I can only imagine how awesome Powered Up 2 would be. Powered Up 2 and Maverick Hunter X3 are probably the top two on my "Mosted wanted games" list.