[quote author=“psp-vault”]Firmware version 1.51 is now available for updating your North American version PSP.
All you have to do to update your firmware is:
1) Go to your home screen select “Settings” and then select “Network Update”
2) Select your Wireless connection
3) It will prompt you to insert a Memory Stick with at least 14 MB of space free. Once you inserted the MS (or you already have it in), press X button and downloading process will begin. I downloaded the update in a matter of seconds. (download speed varies with different connections.)
4) DOWNLOAD COMPLETE, it will asks you to press X button to instal the newly downloaded firmware update or press O button to instal later. YOU MUST HAVE YOUR PSP CONNECTED TO THE AC ADAPTER IN ORDER TO CONTINUE WITH THE UPDATE.
5) It will asks for a confirmation. Pressing “>” on the D-Pad will initiate the instalation, pressing O will cancel the process.
NOTE: If you so choose to perform the update at a later time, the downloaded update file can be found under the “Game” category on your home menu.
At the moment, I cannot find a link on the PSP website to download the update manually onto the PC and then using the USB cable to transfer the update file over to the PSP. (for those without wireless routers or wireless access points) Sorry.
Now the debatable question: To update or NOT to update? THAT is the question. 
The update will do: “Revisions to strengthen security”
