Ok idk if this is old news but I found this out last night. I don't remember anyone saying anything about it so I thought I should post it.
What you'll need...
File Assistant 0.04 on the 1.50
ANY savegame file on the 1.50
1. Open up File Assistant on the 1.50 PSP.
2. Go through your folders and go inside any saved data folder.
3. Delete ICON0.PNG or PIC1.PNG.
4. Copy the image from your PHOTO folder into the saved data folder. Rename the picture to ICON0.PNG or PIC1.PNG (whichever one you deleted).
5. Exit out of the program.
6. Go to the savedata file you put the image in and press traingle. Then hit Copy.
7. Copy the file onto the 2.00+ PSP,
8. Now on the 1.50 PSP go back to File Assistant.
9. Once you get to the tite screen insert the Memory Stick that was in the 2.00+ PSP.
10. Go into the savedata folder you transfered over and move/copy the image to the PHOTO folder.
11. Rename the image. Make sure it's the same format that it originally was.
12. Go drink a milkshake.
EDIT FOR STEP 12 - IMPORTANT - make sure the milkshake is chocolate. :icon_smil
Like I said idk if this is old news but if anyone wants to check it out feel free. I haven't tried this with music/videos so if anyone feels like trying that also just go ahead.