Yes, that is the whole point of CFW, mate. It has all of the functionality of the official, with the added ability to play homebrew and self-dumped ISOs off of your memstick. There is only additions to CFW, nothing is taken away.
I'd disagree a bit on that.
He took away Location Free Player and Korean fonts,
but of course only if you added the 1.5 kernel on a phat PSP.