I just got my PSP 2.5 EU - question is what exactly can it do as far as homebrew stuff is concerned ? I now know it can`t be downgraded to 1.0 to "do the business" but as long as I can watch movies from a mem stick and run some emus ( in particular I would like to run Megadrive roms and has anyone done a PSP C64 emu?)
Any help would be appreciated, I`m not a total dork ( I`ve softmodded xboxes using exploits)

Cheers
ALW

ps The console wuz free - any of you working in the motor trade in the UK SAVE YOUR NGK SPARKPLUG BOXTOPS - 1000 GETS YOU A FREE PSP - CHECKOUT WWW.NGKBOXCLEVER.CO.UK - you do have to be a proper garage to take part