ZiakII writes "Endgadget is reporting that the PSP firmware 1.50 has been broken." From the article: "a group called PsP-Dev have apparently confirmed successful a homebrew bootstrap on 1.50 (no word on 1.51 or 1.52). What's that mean for the indie developer/emulation/warez communities? Well, pretty much the same as before--use your hardware the way you want it. For SNES emulation, that is. Obviously." Tom's Hardware has the story as well.
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