DSP is a card that modulate or process the voice communication. It allow a router/computer/equiptment
to process a certain type of signal. In VoIP PBX/switches it is used to process voice. It can be on the device board or an add on card. Yes it is like a CPU, but most look very much like a DIMM/SIMM memory module.
DS1 is a type of network circuit technology. Like you mention about Ethernet / PRI /E1/T!.
checkout for more info:
http://www.voip-info.org/wiki/view/PRI