Downgrade Your PSP From Firmware 3.50
Hot on the heels of Sony’s announcement that a new firmware version is available for their PSP handheld gaming and multimedia machine comes a development in the homebrew community to downgrade that sucker away from 3.50. Most legitimate people may be asking why you would ever want to downgrade your PSP, but the homebrewers and the pirates in the audience know that it’s all about being able to run your own custom applications and, er, “backup” games… if you catch my drift. Not that we necessarily condone that kind of thing.
In order to revert to an older firmware, PSP 3.50 owners will need to get a copy of Lumines and then follow the tutorial. One of the requirements listed in the tutorial is: “Sufficient intelligence and English language skills to be able to carefully and throroughly read the instructions.”
The net result is that you go back to the juicy firmware 1.50 and from there, you can run special programs to emulate later firmwares.
Source: PSP Fanboy
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