You can run emulators and other stuff on a PSP running 1.50 firmware. Here is the info from

"To clarify, what you need to do is first of all have two memory sticks. Memory stick 1 is your "dumby" stick and Memory stick 2 is where you’ll end up having your homebrew/emu’s/roms

Memory stick 1 can be any size stick (preferrably the 32 MB crap stick you got with your PSP) and Mem stick 2 will be the larger one (as you’ll be storing your stuff on it).

Ok, so first I put in my 32MB mem stick and then I ran the program that came with the tutorial (the MSwap Tool). It installs in Spanish and you’ll be asked to restart your computer. Restart (the option that says "Ahora" in it) and then run the program. Go up to "Idioma" after the program is going to change the language to English.

Now, any program you want to "convert" you select the Eboot file under "PBP File". Just browse and select the Eboot file. Next you choose where you want your output directory to be. The output directory will be where the converted eboot FILES will go.

You hit "Generate Files" and bam, son, you can now go grab those files from the output directory. Once you find your output directory (the pop up message will tell you in case you forget, after you hit "generate files"), you will notice there are two folders – MS1 and MS2 for Memory Stick 1 and Memory Stick 2 respectively (duh).

There will be an eboot file in each folder. Insert Mem stick 1 into your PSP, hook it up via USB cable or whatever, and copy the eboot file over to the directory:


After you’ve done that, you can take out Mem Stick 1 from your PSP and insert Mem Stick 2. Now, copy the eboot file from MS2 (in the output folder) and put it in the EXACT SAME DIRECTORY (PSP\GAME\TEST\Copy-your-eboot-here again) Once you’ve done that, you’re ready to test your reflexes.

Insert Mem stick 1 into your PSP again. Go over to Game and scroll down to "Memory Stick". You’ll see the icon for the program (Launcher 1.5).

What you have to do now is to start up the program, quickly take out memory stick 1 from your PSP and insert memory stick 2. You have to do this pretty fast (at least I had to with the damn calculator, lol. The first time I didn’t do it fast enough) When you hit the button to start the app, don’t even bother waiting for that PSP logo screen to go all the way through – you should immediately begin the swapping process.

I recommend keeping the memory stick door open and being ready to pop that mem stick 1 out and slap in mem stick 2 with haste! I hope this helps some for those who were a little confused by the PDF. I was at first till I read it through a few times and just gave it a go."

The emulators are available on