Alright I had alot of problems with this and finally got the hang of it, and I'm imagining other people are since its a new update (that and half the stuff DAX said didn't make sense?). Anyhow this is a guide on how to use DAX's Time Machine.
What is Time Machine you ask? Well its a easy way to unbrick your PSP, not only that but it allows you to put any firmware onto your PSP, the main reason = 1.5 kernel support on the PSP Slim to play HomeBrew App's.
Requirements:
-Pandora's Battery
-Regular Battery
-Magic Memory Stick A.K.A. MMS
-Custom Firmware 3.90m33-2 (this version of TM can only handle this FW)
Anyhow to start off the guide download this link with all the needed firmware's ect.
MEGAUPLOAD - The leading online storage and file delivery service
Once you're done extract the files to the root of your MMS.
Boot up normally with a regular battery on 3.90m33-2, then hit GAME > MS > Time Machine. A installer screen will show up, Hit the First Option(install IPLloader) Then hit the second option after the first is done(ConvertPandora). If your on a slim then hit the 4th option which is : Install 1.59 with 3.40 hw modules (phat&slim)
Let it finish its longer then usual install which takes about a minute or so.
Then hit X to Exit, and Pull out your battery.
Now insert a Pandora Battery and hold O (to boot 1.50 on slim)
You'll notice 2 things, the Memory LED will blink crazily and that you can now boot and use your Pandora Battery as a normal one!
All thanks to DAX.