Team Emergency Exit has released possibly one of the best applications ever built for the PSP. This program’s main features are:

  • Boot PSP games that require 2.0+ firmware (not ISO load)
  • Downgrade your PSP and considered a very safe downgrader and even backups your old firmware so you can revert whenever you wish
  • Swap the O and X buttons - if you happened to have bought a Japanese PSP and would like to swap them so they will act the same way as the American/European ones
  • PSP’s stuck pixel fixer

To run the program use fanjita’s eboot loader.

Source: PSP Hacks