i don't have a psp but i read that the psp community is looking from ages for a method for downgrading the latest psp firmwares due to the impossibility of playing homebrews on them. i was just thinking (i have some experience on xbox ;) ) why not trying an "hardware method" for the downgrading:
I don't want enyone trying this method, if it'll brick some psp my name would be in the ****! THIS IS ONLY A STUPID SPECULATION!
is it possible to hotswap a 1.0 jap psp eeprom whith an higher version eeprom? you know, on 1.0 psp is possible to run homebrews so someone could make one that upgrades the firmware without security processes and hotswap the psp eprom after homebrew is running but before the upgrade ...
please don't say i'm a stupid ... ;) ... i only tryed to compare xbox bios hotswap to psp.