Well, we guessed it wouldn’t take long for homebrew to be up and running on the latest PSP firmware, and according to Fanjita over at noobz.eu, that moment is nearly here.

You remember that the only thing holding us back from a downgrader for v3.03 was the lack of a user-mode exploit?

Well, we don’t like to be held back from anything, so we went back to basics and looked over some of the old exploits. And what do you know? We found one!

We did a little digging into the old GTA exploit, and discovered that it hadn’t been properly patched after all. We’ll leave it as an exercise for the interested reader to figure out exactly how we got past the patch (and to give Sony a little while longer before the head-slapping “Doh!” moment ).

But the short version is that we can now run code again via Grand Theft Auto : Liberty City Stories.

This is great news for PSP owners who are keen to get their hands on some homebrew action, and even better news for PSP owners who want to use Dark_AleX’s custom firmware (3.03OE-C at time of writing) as Fanjita reckons that a downgrader should be available within a week!