This is a monumental day for the homebrew community as Team Noobz and Team C&D have released a program entitled "Pandora's Battery" which allows you to unbrick a psp. What this program does is turn your normal PSP battery into a "Jigkick Battery" and a regular 256mb memory stick pro duo into a "Magic Stick". These are the tools Sony themselves use to unbrick PSP's. Before you start though, you'll probably want to use a spare battery and a 256mb memory stick pro duo for this because you wont be able to use them for normal gameplay after the conversion has been completed. Here's some of the notes and restrictions packaged in the readme…

NOTES AND RESTRICTIONS

- The firmware in the Memory Stick is not a full 1.50, but a minimal
  subset. Therefore, not all applications (such as flashers, or
  recovery apps) will load.

- Only Memory Stick Pro Duo are compatible. Memory Stick Duo
  (e.g. 32MB sticks) are not supported.

- The IDStorage cannot be totally restored, as there is no known way
  to regenerate it properly.

- It is strongly RECOMMENDED to make a flash dump of the PSP before
  any downgrading operation.

- There might be a BSOD at the end of the downgrade. This is normal,
  and happens on the standard downgraders.

- All hardware revisions known at this day are supported.

- This release contains no Sony-copyrighted material.  All required
  Sony data is generated from the v1.50 update files.

Many thanks to…

- All work done by the Prometheus team aka Team C+D:

  Adrahil (VoidPointer)
  Booster
  Cswindle (Caretaker)
  Dark_AleX (Malyot)
  Ditlew
  Fanjita (FullerMonty)
  Joek2100 (CosmicOverSoul)
  Jim
  Mathieulh (WiseFellow)
  Nem (h1ckeyph0rce)
  Psp250
  Skylark
  TyRaNiD (bockscar)

- With thanks to everyone who has contributed to the PSPSDK, without which
  nothing would have been possible.

For further information and instructions on how to use this program refer to the readme file included in the download.

- Download

- Easy Installer

- Installation Tutorial