Some good news, hopefully in a few weeks we’ll be able to run our own apps on the new firmware – Some very interesting things going on in the PSP hacking world. It would seem that someone has gotten the DATA.PSP files from the various update EBOOT.PBP files decrypted. This is the next step in unlocking the secrets of the PSP’s firmware. How to flash/re-flash, and modifying firmware files to suit individual hacker’s needs, etc… Link.
PSP 2.0 Firmware Update Already Decrypted?