QUOTE(mortaldoom780 @ Mar 18 2007, 11:36 PM)

No... I am running 3.11 emulating 1.50-- or, at least trying to. the eboot file WORKS (runs, but does produce an error and shut down), which is weird, because it is designed for like 2.70, but I am convinced that the eboot file working is a sign that the DevHook might work on 3.11?
Depends on what it says; if it says "corrupted file" (or similar) then it does NOT mean that it works.
QUOTE(mortaldoom780 @ Mar 18 2007, 11:36 PM)

I'm dreaming, arent I...?
Unfortunately, yes.
QUOTE(mortaldoom780 @ Mar 18 2007, 11:36 PM)

If this really DOES work, then that means you can run homebrew software on a firmware ver. 3.11 psp emulating 1.50.
If it did work then that would be the case, yes.
QUOTE(mortaldoom780 @ Mar 18 2007, 11:36 PM)

The thing is, at the site I mention earlier, it states SPECIFICALLY that you can run the software on 3.11. This is interesting.....
The download post you linked to is simply worded badly.
In reality, this program will only run on homebrew-compatible firmware (1.00/1.50/2.71/3.03/SE/OE).
It is a program that decrypts firmwares (up to 3.11) for use with DevHook.
This could easily have been gleaned from the folders in the archive named "1.00 Eboot" and "1.50 Eboots".
And in the readme:
QUOTE
1) Have the latest Devhook installed (0.520100 -> Make sure it's installed properly!)
2) Download the firmware that you want to decrypt (Probably 3.11)
3) Put the firmware EBOOT in the root of your memory stick (ms0:/)
4) Run program
5) *Enjoy your Devhook!
From this you can see that it can decrypt up to 3.11, and that it only works for firmwares which support DevHook and can run unsigned EBOOTs.
In conclusion, sorry, you'll still be waiting for a 3.11 exploit / downgrader.
I don't think that there will be one for some time, so it might be easier to just sell your PSP and buy a downgradable one.