They did it! The PSP-Dev guys found a hack to run arbitrary code on Westeran PSPs! W00t!
But I'm such a moron! A few weeks ago I was playing with my PSP and I did an over the air upgrade of the firmware from 1.50 to 1.51 just to play. So now it turns out I can't use the new PSP hack which works on 1.50 only! Waaaaaaah!!!
The process to run apps, as you might expect, is a hack in a very true sense and not something you'd want to do regularly. You have to have two Memory Sticks which you set up via a USB cable connection to your PC or a card reader. Then you highlight the app which sits on one Memory Stick and physically swap it out to the stuff stored on the other before the app loads to run. Not beautiful, but it works.
Check out the news from psphacker.com, including the emulators already available:
One of our moderators Brain_stew has submitted this great zip (by PawStick of PSP-Dev) which contains pre-made MS1 and MS2 folders for the following emulators: Cygne0.0, fMSX06, GenPSP0.01, MAME v0.71n, NesterJ v1.01, ngPSP v1.2.1, PCE v0.53, PSP4PCE v0002, pSwan v0.03, RIN v1.24, SMS PSP v0.30, Snes9x v0.02y9, and xMAME v0.12. You can get it here.
That so totally rocks. I'm *so* tempted to go buy another PSP *right now* and eBay the one I have, I swear.
Update: Phillip over at Make: sent me a link to this great tutorial on getting the hack working. Awesome!