OK! Here we go.
1. Update to 5.03 OFW. Done
2. Install ChickHEN, refer to the ChickHEN R2 readme that is bundled (I haven't used it so idk)
3. Extract the Recovery Flasher 1.60 .rar/.zip
4. Place the "RECOVERY" folder, in the X:/PSP/GAME folder of your mem stick.
X being the root.
5. Run ChickHEN by going to 'Photo' in the XMB, then 'ChickHEN', the the bottom picture. (If that fails, search the forums, theres a few theads on ChickHEN)
6. Once the device reboots, go to 'Game' then Recovery Flasher.
7. Once in the program, select install 5.00M33-6, wait for it to finish, then your done, you can delete ChickHEN, but keep Recovery Flasher just in case you semi brick your console.
If i'm wrong in some places, someone else will more than likely fix that up
