I finally gave in to the update when Burnout Legends came out (I figured it was inevitable anyway if I wanted to play upcoming releases). I have all the homebrew I need on my PC and Dreamcast, and I didn't want to mess around with changing versions. The truth is though, since I've bought Burnout Legends, Virtua Tennis, and GTA:LCS....along with the other games I have for my PSP, I don't find myself missing the homebrew at all....even though that was my main perk for owning the PSP for a while. I can see how the current lineup may not appeal to some though, and giving up the Emu stuff may be too much to ask, but as for me, I'm enjoying the 2.0 web browser, and I have more than enough titles to keep me busy for a while....with a bunch more on the way. I do keep all the homebrew stuff and MPH downgrader on my desktop, just in case I do get that itch again, but it's definitely nice to see the library of quality titles finally starting to grow on the PSP.
And by the way, I really am loving GTA:LCS so far. I haven't played much GTA since GTA 3 first came out for the PS2, so the lack of the extra analog stick isn't bothering me at all, although it would be nice to have. The story is all brand new, but it is cool that I don't have to learn a new city and I am having an easy time navigating through the missions because of it. It has its kinks of course, but I'm just amazed at how well it all translated to a handheld, and how much they fit on that little UMD.