I've just released Project4 Open Beta 4 over on my forums.
This version sports a lot more updates than Beta 3 did, for obvious reasons, and also comes with the new speedy patcher, any questions just ask, any suggestions, post them on my forum so they are all in the same area.
Check the readme, namely the installation as there is some pretty important information, and Project4 really could brick your PSP if you fail to read it, as proved in Open Beta 1 (I also found what the problem was, which could have been avoided if people had read the readme).
I'm also looking for some rough time differences for installation, I.E. how fast this version installs on which firmwares, and the length of time previous Project4 versions took.