I downloaded a rom of it and am pretty much convinced that it's not worth getting a pocketstation. That's got to be the stupidest game I've ever seen in my entire life. So will I be missing out on any important items by never playing CW on my playstation? I've heard you can get heros, a moomba GF, Greiver GF, blue magic, several other things. How much of this is true?

no griever or blue magic. There is a friendship item that summons Moomba, and you can get Ribbon, MiniMog, as well as several other good items. It also upgrades Boco's attack.

I knew you could summon a Moomba but i didnt know about griever plus i dont think theres blue magic

You can't get griever.. so stop trying all you ppl. There are blue magic items located in chocobo world and you can get minimog and moomba :D and like the other person said.. If you boco is lvl'd up enough he gets a new attack for in the 'real world'
I find it a funny add on, but thats all.. nothing special.. could have easily been deleted. It keeps you busy for 1 min.. then it gets boring like hell.

Is any of the blue magic useful and/or impossible to get without CW?

No you can get all of the blue magic items right in the game.

and most of the useful blue magic can be gotten much easier than waiting through chocobo world (except for dark matters, those are easier to get in chocobo world.)

Ok, so the moomba summon is the only thing that's completely unique to CW. Glad I didn't buy the pocketstation.

.

I wish I had the Pocketstation, man that would be so fun... does anyone have it or know where i can aquire it.

They occasionally appear on E-bay, and I think there are some Japanese import stores on the internet that sell them. If you are more interested in seeing the actual ChocoboWorld game than in getting the Moomba GF, you can download it at http://www.angelfire.com/ns/scuderia/toomuchstuff.html.

.

A period accidentally got stuck in the url. I fixed the above link, try it now.

Chocobo world is the stupidist game ever. Its really super boring and really, there isn't that much to aquire. Not work your effort getting a pocket station.