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, 5.03 GEN-C. Unlike 5.00 M33, you can access the PSN Store with 5.03 GEN-C, play the latest games without the need to decrypt them first and a whole lot more. What? You have no idea where to start installing 5.03 GEN-C? Don’t worry, I’ll fill you in, but first, the important part:

What do I get with Custom firmware 5.03 GEN-C?

• Compatibility with all known PSN Game/Démo from on 15/12/2009
• Compatibility with all known UMD on 15/12/2009
• Add ISO SPeed MS loading (Bêta version non really tested because we don’t have any fake MS)
• Network update
• All features of 5.03 GEN-A and 5.03 GEN-B are available.

So how do I install 5.03 GEN-C on my PSP?

Read this guide on how to install 5.03 GEN-C on your PSP.

[via How to install Custom Firmware on your PSP]