I've finally just bought myself a PSP and have been told that its firmware (3.71 m33.3) is very er, useful!
I'm assuming this means it's along the lines of a modded console that allows the use of copied games etc, but I'm a complete novice with PSPs so can someone please let me know exactly what I have on my hands here?
Software version 3.71 is quite recent, it just means your PSP can do more than one on version 2.70 for example.
Every couple of months the PSP gets updated, its a free download so if you can connect it to wifi I think 3.90 is the latest.
Most modders are still using much older versions of the PSP software as they cannot crack the newer ones.
dont update to the newer official Sony firmware you will not be able to go back to the custom firmware easily(if at all)
see www.psp-hacks.com for info on custom firmware and PSP modding
You are right you could use your new psp to play copied games or download some psp homebrew software (games and applications made by psp users and not published by sony)