I've had my PSP Slim for well over a year, and I've known about the homebrew community for quite a while. I've been putting of homebrewing until my warranty went out....and I guess just laziness. But before I do anything, I have some questions.

Is it possible to downgrade a PSP Slim running 3.95 OFW and what exactly will I need?

What type of CF will I need? I've heard of so many.....M33...Dark Alex....

What other benefits are there besides ISO's, and stuff? Is there any program like Skype?

Thanks in advance.

I think all you will need is a compatible Pandora's Battery, and a memory stick set up appropriate (this can be done via your PC).
But the get the battery you need, one of the following will be required:
- a homebrew-enabled PSP (to soft-mod a battery)
- a pre-converted battery (such as the Datel TOOL)
- a hard-modded battery (you have to open it up to do this, not recommended personally)



I would recommend 3.90 M33-3 by Dark_AleX, but most of them work well.


PSP ISOs, PS1 ISOs, homebrew applications (GBA, NES, Sega emulators, alternate shells), etc.
Others could probably think of a few more.

I've been doing some research and I think all I need is Despertar del Cementerio V5 found here:

http://dark-alex.org/index_psp.php

Has anyone else tried this?

Yes, that's the software you need, but you also need the appropriate hardware (battery) to launch that software off your memory stick.

any one tried 3.95 gen??? is it as good or better than m33??? any difference at all???

Never tried it but if i had to guess it's probably really similar.