with modifications, yes
Assuming you mean the 'SEGA Mega Drive Collection' UMD, just insert it into the PSP, the instructions for the games should be in the manual or at least explained in-game.
You only play Dreamcast games like Sonic Adventure on your Sega Dreamcast instead of Sega Saturn.
I Play PSX Games on DS i use psemuds
I think so
No. Sega Genesis games can only be played on a Sega Genesis or Sega Nomad, and some other consoles with Genesis compatibility.
No.
yes
The Sega Genesis/Megadrive version is way better than the master system version. But you could still get both to experience the different play-styles.
currently no but there should be an emulator eventually
No, you cannot ! Directly from the Sega Saturn manual: "You cannot use Genesis, Sega CD, or Genesis 32X games or peripheral equipment with your Sega Saturn."
== == == == The Dreamcast is not backwards compatible with earlier Sega game consoles, so it is not possible to play Sega CD games on a Dreamcast system. However, the Dreamcast's built in music CD player can probably play any audio CD tracks contained in a Sega CD game. Note that not all Sega CD games utilized CD audio tracks for music.
You will need a power base converter