have a good read of all the thread that i told you, it gives you an idea of all the pitfalls that i came across. look in the menu of your PSP and tell me what firmware you have on it. short answer for now is that it can be done, i might get a tutorial done now that someone else is looking for the info but it is all in the other thread.
thats me off for the night, i will revisit this thread tomorrow and update any further questions you have.
you might need a pandora battery they are cheap $6 ish from deal extreme, you will need a memory card, at least 8Gb if you want to hold a few games or movies on it at any one time.