The PSP Backdrop Finaliser allows you to take images and make them in to nice looking PSP Wallpapers, and has support for both 2.00+ and 1.00+.
A full list of changes is included in the readme, and all I can say about it right now is that it is a major improvement over its predecessor.
Name: PSP Backdrop Finaliser
Contents: Executable, readme and 24 images to get you started.
Please let me know what you think and any suggestions you may have for future releases.
Note to mods: If you feel that this thread doesn't belong here, feel free to move it.