depends the latest cfw out is 5.50GEN D2, but the best IMO is 5.00m33-6 its got a 1.5 kernel and is very stable, but really the best cfw is whatever works for you
Not to hijack the thread, but is there a list comparing each CFW's pros/cons? My PSP will be here in a couple of days, and honestly, I'd be asking the same question.
here's all you need to know
M33
-Most compat with homebrew
-STABLE
-1.5 Kernel
GEN
-fairly stable/compat (but there will be some probs)
-No 1.5 Kernel
-Latest sony fw features
-At one point had PSN access, but no longer does ATM