I think Sony has pretty much given up on trying to keep homebrew out of the PSP. Just the other day, a way was discovered how to play copied PS1 games downloaded from the PS3 Store with a custom version of the 3.02 firmware. Now, the emulator has been fully cracked and you can now PLAY ANY PS1 GAME YOU WANT WITHOUT WAITING FOR SONY TO RELEASE THEM AT THE PS3 STORE:
http://pspupdates.qj.net/Dark-AleX-s...g/49/aid/77278
I've always been a DevHook man since day one, but I think I'll have to flash my PSP with the custom firmware after reading this. I've been waiting for something like this to come out ever since I got my PSP at launch and it sounds way too cool not to try.
EDIT: Posted the wrong link earlier (that was the 3.02 OE-B pre-release info). Here's the correct one with the link to the OE-B release thread with the file for download.