Originally Posted by SilverTab

if you have firmware version 1.50 or lower...you can run "homebrews"...(programs that people code for the PSP, that you can run from your memory stick..)

among these program there is a loader (that you can use to load game ISO...i.e. you download games from the web and play them from your memory stick)
there is also a snes emulator, some media program, office apps etc etc...

with firmware 1.51 or higher...you cant run any homebrews (at least not yet)
thing is...once you upgrade your firmware to 1.51 or higher, you can'T rollback...so I didnt make that mistake