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you can install CFW from HEN if your psp is hackable..
[Tutorial] Convert your Hackable OFW PSP to CFW without Pandora
but remember this:
taken from HEN Read Me file:
* [What it does not do?]
- Magically allow the use of Custom Firmware (on TA-088v3 or PSP 3000)
*...
I have to agree that the PSP scene is slowly fading..
almost all if not all has been created for PSP unless Sony
releases something that will revive the "fire" or unless DA or
other PSP Dev surprise us with their creation the scene will
eventually fade..
@ Nareus:
I think your on Official Firmware you can't update to this version unless you have a Custom Firmware..
go to http://forums.exophase.com/showthread.php?t=3780
If your running Custom Firmware try changing UMD Driver to M33 or Sony NP9660 under Recover Menu..
@ Pranzer:
you can go directly to CFW 5.00 m33-3
download Sony's Official Firmware 5.00 and rename it to 500.PBP
and CFW 5.00 m33-3.
ms0:/PSP/GAME/UPDATE (should contain EBOOT.PBP and 500.PBP)
@ ree2j:
seems like your talking about Official Firmware 4.01 to Official Firmware 5.01 not Custom Firmware
because the latest Custom Firmware is v5.00 m33-3..