for you to get the most out of your psp you will need to get custom firmware
becuase you are on 3.11 you will need to downgrade to 1.50 first
there are a few ways you can do this either through the tutorial in the downgrade thread or with a pandoras battery.
have a look in the guide section for these threads.
then you can upgrade to custom firmware and use emulator and play backed up games of your memory stick.