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At the moment you can update to PSP v2.0 and then downgrade back to PSP v1.5. The advantage in this, is in running Homebrew / Emulation Applications. Homebrew Apps are small programs mostly written in the Lua Languge, mostly Game or Game Clones like Dr. Mario.
Emulators are a bunch of different Applications rangeing from the Nintendo and Sega 8-Bit & 16 Bit Machines to there repective handhelds. Other Consules include the PC Engine, Neo Geo (CD), Atari Lynx, Commodore 64, Amiga. Yes you can even Emulate some of your old DOS Games, and or Windows 9x on your PSP as well. Granted you have a large enough Memorystick!
Another asspect to PSP v1.5 is the fact that you can play Backups from the Memorystick again if your Memorystick is big enough!! So you don't have to lug all those UMD with you.
This of couse makes $0NY rather sad. =(
So they desided to fork us over with PSP v2.01 Needless to say this is a very evil PSP Firmware it adds nothing of intrest to anyone besides $0NY that is. As for the question of Downgradeing and then being able to play newer Games that may start to requrie you to have PSP v2.0x installed cough GTA: LCS cough you just need to use a Firmware changer that will report to the Game in question that you are already running the requested version, and so leve you alone, to enjoy your Game.
The only possible downside to all this is the lack of PSP v2.0's Web Browser. Haveing just bought an 802.11a/b/g PCI Card I came to the horrid conclusion that I'll still have to purchase a damned Router aswell! =(
So Internet on the PSP is still not an option. But I gather the Tenchi Browser Besides beeing totaly in Japanese! works well on the PSP v1.5. I guess I'll find out soon enough when Payday comes around next Month...
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