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If you want to install custom firmware on your PSP, read this guide on how to install custom firmware After installing custom firmware, you can update your PSP to the latest stable version, PSP 5.03 GEN-B Custom Firmware

How to Install Custom Firmware 5.03 GEN-B for ChickHEN

What do I get with PSP 5.03 GEN-B Custom firmware?

• All features of 5.03 GEN-A are available.
• Compatibility with games requiring firmware 5.51 with no additional handling (no more Decrpyting PSP games)
• Compatible with the PSP-3000 and PSP-2000 v3 official firmware 5.03.
• Play backups of games REQUIRE PSP firmware above 5.03, including 6.xx Play backups of games REQUIRE PSP firmware above 5.03, including 6.xx
• Reading UMD that REQUIRE firmware above 5.03, including 6.xx Playing UMD REQUIRE firmware above 5.03, including 6.xx
• Reading UMD / ISO games protected against the custom firmware. Playing UMD / ISO games protected against the custom firmware.
• Play PS1 games
• GEN VSH MENU available (SELECT)
• Recovery in VSH Recovery available in VSH available
• Reading Reading Homebrews

Fixes for Custom Firmware 5.03 GEN-B:

• Evangelion Anti CFW patch Fix
• Fix Wlan TKIP in game loop : pes 2009 , fifa , motorstorm , GTA cw ect….
• Fix Video Output With 5.5X and 6.X Games like GTA Chinatowns War
• Fixed recovery menu with make Pandora and make battery normal
• removed splash screen http://www.pspgen.com but you have another spash screen in red color for let you know if the decrypter work .

So how do I install PSP 5.03 GEN-B Custom firmware?

Read this guide on how to install PSP 5.03 GEN-B Custom firmware on your PSP.

[via How to install Custom Firmware on your PSP]

Your PSP runs a certain software called firmware. If you have a PSP that runs official firmware then you might want to consider downgrading. People who have downgraded their PSP to firmware 1.5 have upgraded their PSP again with custom firmware which allows you to run home brew on your PSP and run games from your memory stick.

If you have already downgraded your PSP then you are aware of the fact that custom firmware gets updates frequently. The latest patch is 5.00 M33-6. You can install 5.00 M33-6 very easily, whether you already have 5.00 custom firmware or if you’re upgrading from a M33 custom firmware below 5.00 M33.

What you will need is the update file for 5.00 M33-6. Then you need to unzip the file and put the UPDATE folder into your GAME folder of your PSP. If it asks if you want to overwrite then select “yes”. If you have a PSP with M33 custom firmware below 5.00 then you need to find the official 5.00 firmware and rename the EBOOT file to 500.PBP and put it in the update folder.

Go to “Game” -> “Memory Stick” and select the M33 installer. Press X and you will have installed 5.00 M33-6 custom firmware. if you’re also installing from a firmware version below 5.00 M33 you will now after pressing X have to select your timezone and similar options. In the end you need to press X to finish the installation. Now you will get a blue screen and you need to press O, do this or your PSP gets bricked. Now your PSP will reboot and your PSP will be running 5.00 m33-6!

The bug fixed in 500 M33-6 allows booting your PSP without memory card. PSP games are loaded quicker from the memory stick as well, but that was already implemented in the very recent 500 M33-5.

For the best, easiest and safest guides on hacking your PSP go to Custom Firmware.com

For more details on how to upgrade your PSP to the latest custom firmware, check out the 5.00-m33-6 guide.

Want Free PSP Games on your PSP-3000 or PSP-2000 with TA-088v3? Yep, it’s now possible to do so with 5.03 GEN-A which runs via the ChickHen R2 Hack.

Requirements:

• A PSP-3000 or PSP-2000 with TA-088v3 motherboard with a firmware version of 5.03 or lower. If you have anything higher, you can’t install GEN-A.
• Download: 503.pbp
• Download: ChickHEN R2 | GEN-A | GEN-A
• Back up your save files (so that if they get corrupted, you still have backups)

Once you’ve downloaded everything, you can now proceed to install 5.03 GEN-A via the ChickHen R2 Hack. Ready? Go ahead and read the installation guide.

If you have a PSP-3000 and want to play ISOs on your PSP, then you need to install 5.03 GEN-A via the ChickHEN Hack on your PSP.

Install 5.03 GEN-A on your PSP-3000 via the How to Install Custom Firmware 5.03 GEN-A for ChickHEN Guide.