Help Needed Hacking PSP 1001.

What would happen if I tried the chickHen eploit with 5.05 ?
Answer #1
it should work, and after that you could use it to make a pandora battery and install CFW
use this guide after you used the chickHen exploit
http://forums.exophase.com/showthread.php?t=3780
or you could only use the exploit but you have to run it each time you start the psp
Answer #2
What would happen if I tried the chickHen eploit with 5.05 ?
Nothing, you are .02 too high, Chickhen R2, works on 5.03…….. your screwed till they release Chickhen R3, just wait man.
when they release Chicken R3, you can install Gen-A, or do what the person above said and run the pandora battery program and install M33 on your psp, either way both work M33 and Gen-A both great custom firmwares.
Answer #3
you can downgrade from 5.50 to 5.00 but you will need a pandora battery
http://pspcustomfirmware.com/how-tos/how-to-downgrade-psp-ofw-550-to-cfw-500.htm