According to the BBC, three hacker teams united in their efforts against Sony and their PSP protections. Noobz, Team C+D, and a group led by PSP hacker Dark Alex discovered a fatal flaw in Sony’s most recent PSP firmware release 3.03. The team discovered a way to unlock all PSPs, regardless of the age of the device or the firmware it is running. This is a huge victory for homebrew applications that should be running wild very soon.
The value of their new discovery is that the PSP can be completely unlocked and still have all the features of the latest firmware which was not previously possible.
We’ll have to see how long it takes for Sony to put out a new firmware that these guys can’t crack. The hackers naively believe what they are doing is legal, but I’m not going to complain.