homebrew is any program - be it games or apps, that is unsigned code. so its not 'published' with the official seal. in other words, its programs that people make by themselves, and in the PSP's case, its not released by Sony. they are free, so get them from trusted sources http://www.afterdawn.com/glossary/terms/homebrew.cfm
ISOs can be run from 1.5 via devhook, which emulates other firmwares, or using custom firmware like 3.03 oe-c. upgrading to 3.03 oe-c lets u run homebrew, which cannot be run on a 2.00 or 2.8, but 3.03 oe-c also has the functionality of 3.03. its basically a hybrid between 1.5 and 3.03
so with 3.03oe-c you dont need emulators or loaders ?
so if i wanted to download isos to 3.03oe-c i could?
and also download mario games and gba games and all the other neat downloads?
o and i forgot to ask above but wat are roms and fastloader?
u don't need loaders, because the firmware can load it for u, but u still need emulators.
fastloader is an old method of loading isos, but again, its outdated.
roms are basically games, like for gba or gameboy, or mame. i like to think of them as ripped games from cartriges, but thats probably not a good definition
seriosuly, upgrade, its loads better than 1.5. it does everything 1.5 can, and more