Yes, you do not at all need a 1.5 PSP anymore. Version 2.0 can be downgraded to 1.5 without any issues. You will most probably recieve a 1.51 or 1.52 PSP, and in that case, you would need to UPGRADE to 2.0, then downgrade back down to 1.50.

You can run the PSP with AC adapter no matter what firmware.

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