Dark_Alex, along with Mathieulh and Yoshihiro from SonyXTeam, have released the first working 2.50/2.60 downgrader. Most credit goes to Dark_Alex (as said by Mathieulh) as he is the founder of the downgrader. Also, we would all like to give our thanks to Hitchhikr for the exploit that made this all possible. We have seen several betas over the past few days, several of which have been confirmed as non-working. However, just a few moments ago, Mathieulh released a beta version of the upcoming v5 of the downgrader. If you choose to use this downgrader, use it at your own risk!! This is still a beta version!! A lot of people are reporting success, but please, try at your own risk!
Here are some guidelines and instructions from the PSP Updates website:Before downgrading, make sure you meet the following requirements: Your PSP is not a TA-082 (If you do have this PSP version, it may result in a brick).
1.50 User Instructions:
1. Copy the folders downhelper and downhelper% from the folder 1.50 HELPER folder to /PSP/GAME/ in your memstick.
2. Obtain the 1.50 update and put it in /PSP/GAME/UPDATE in your memstick. You may find the 1.50 update in our download site here.
3. Init the downhelper program.
4. It will dump your flash and some files from the updater eboot to the memstick. (These files are illegal under US copyright laws, so please do not distribute them in the comments or on our forums)
5. After that, the program will exit. You can now delete the updater from /PSP/GAME/UPDATE
6. You'll notice that you have a new folder in the root of your memstick called "DOWNDATER".
7. That's the folder you'll have to send to a 2.50/2.60 to let him test the downgrade.
2.50/2.60 User Instructions:
1. Copy the folder the DOWNGRADER/2.50/DOWNDATERTEST if you have 2.50
or DOWNGRADER/2.60/DOWNDATERTEST if you have 2.60 to /PSP/GAME/ in your memstick
2. Wait for someone with 1.50 to pass you a folder called DOWNDATER and copy it to the root of your memstick.
3. Init GTA and the eLoader
4. In the eLoader menu, choose the downdater test. WARNING: the program won't output any display and any warnings, it will init the downgrader process inmediatelly.
5. You'll see that your memstick flashing. That means that your psp is being flashed from the memstick.
6. You won't see any type of output in the screen (this is for safety). When the memstick finishes of flashing, WAIT at least a minute, and then reinit your psp by holding the power button.
7. That's all. If all went right, you'll have 1.50. If it went less good, you'll still have 2.50/2.60. If all went wrong, you'll have a bricked psp(except in the case you have the modchip) Remember that you have accepted that risk.
8. If your PSP is showing up as v2.01, this is fine. Just use Wab Version Changer and change it to v1.50
Update: For those of you wondering why your UMDs say "Disc cannot be read," take your battery out of your PSP (for up to 5 minutes) and then put it back in your PSP. Your UMDs will then work! Thanks to ZFB8 and Pranav for the information. Pranav has also successfully downgraded his 2.60 White PSP (originally 2.50 JP) to 1.50, upgraded to 2.00, and back down to 1.50 sucessfully as well.
Thanks to Fluff/Naoneo for the exclusive banner and everyone in Fajita's IRC (and PlanetPSP) for informing me of this breakthrough, FreePlay and everyone else for all your time and help as well during this awesome release.
