Instead of enabling people to run homebrew, the PSP hacking groups have started building their own PSP custom firmwares.
Its lack of a UMD drive could screw it over, with consumers unwilling to part with their original PSPs and UMDs, but unable to justify owning two versions of one system.The PSP® (Play Station®Portable) system software update will perform some changes on your current operating system as it may include new or modified features and settings, security patches and other items. Within the "PSP" folder, create a folder named "GAME". Download the update data for the PSP-1000/2000/3000 series and save it in the "UPDATE" folder created in step 2.We recommend you to check this page on a regular basis for software updates as it is best for your system to use the latest version of the system software, allowing you to benefit from all the features of your PSP. It's recommended for all PSP owners to upgrade to the latest firmware. Prepare to save the update data on Memory Stick Duo™ media, using one of the following methods: Connect the PSP® system to the PC using the USB cable Connect a commercially available Memory Stick USB reader/writer to the PC Use the Memory Stick slot on the PC Create a folder for the update data on Memory Stick Duo™ media. Within the "GAME" folder, create a folder named "UPDATE". You must save the downloaded data as noted in these instructions.Insert the cropped edge of the Memory Stick Pro Duo into the PSP system with the lettered side facing up, and push the Memory Stick into place. To successfully install and use a Memory Stick Pro Duo with a PSP system, you must format it.Insert the Memory Stick, turn on the PSP unit and scroll over to the "Settings" section of the Xross Media Bar.