FIRST PSP Mod-Chip!!!!
THe first ever psp mod-chip will let you downgrade firmware with no problem and will let you use other type of memory cards. Here what TeamX said:
"For some time now we have been working hard on a PSP hack. If you remember we never said it was a modchip or anything that could boot dumped games or homebrew (currently you have psp-dev and the WAB team to thank for these breakthroughs). In fact what we designed was our own development hardware to tap into every aspect of the PSP, from the Memory Stick port through to its NAND flash memory and infrastructure.
As there are more and more homebrew applications and games and other exciting developments within the growing PSP scene there is obviousley a need for more storage - and with that comes a heavy price. The cost of a 2Gb DUO memory stick can cost over $400 !
However, what if you could use a Smart Media Card, Compact Flash Card, SD Card, USB Flash Drive or even a USB HDD !
Well it's possible. We are developing a simple plug in device where you can expand the PSP Memory Stick Port to connect to several other memory devices, thus saving massive costs and giving you a multitude of storage options for your PSP no matter what you wish to play with be it games, web browsers, ebooks, music players, media managers and much more !
Using this same development kit we have been able to downgrade v1.52 / v1.51 down to v1.50 or even a v1.00 with no problems whatsoever. We can also tell you its easily possible to patch the kernel to be able to boot anything you like without any type of software loader. It can be acheived in both a modchip AND a non-modchip form so no doubt teams like WAB and others will have solutions for you in the coming weeks as the methods to achieve this are indeed known by others - we are simply confirming its very possible. Before anyone makes a rumour - no Xecuter is not doing any form of modchip for the PSP - it will be a waste of time as every patch can be achieved without the need for this. However maybe certain dealers will have capabilities to downgrade your PSP firmware for you - or to repair PSP's damaged by the over zealous - who knows ?
On a final note good luck to teams like WAB and PSP-DEV - they are worth supporting.
Here is a picture of our pspx dev kit (this version is v0.2 we are currently on v0.5, some things we like to keep internal for now). You may notice an Ethernet connection too"