PSP 1004 Hacking

[obbama]

So, I've a PSP 1004 (fat), i bought it as soon as it came out, and i've never hacked it cause i was afraid. But, now i've been searching again and i found that there are really easy methods, by installing a CFW LME (idk what this means ). I just can't find any tutorial out there, maybe cause i dunno what to be looking for, so i was hoping that any of you could give me a quick and detailed explanation on how to do it.
Also, i've some questions that came out from the research i've made so far:
Are there possibilitys to brick my psp?
Can i re-install de OFW after i install the CFW?
The console will be ready to play anytime after i install the CFW, or will i need to do any thing everytime i reboot the console?
Is it only for gaming, or can i install other things that are only available with homebrew?

Thanks in advance.

PS:
I'm also a new member, been reading this for a while but i've only registered now, so hi to all of you

[El Guapo]

Update your Phat (1000) to 6.60 and use this:6.60ME-1.8 (OFW Version) - Downloads - PSPMOD.com - PSP / PS Vita Forums to install 6.60ME-1.8. Update to 6.60 first though.

Once your on 6.60ME-1.8, if you hold down the "HOME" button while booting up, it will boot into 6.60 OFW

[obbama]

So, i put it in the installer in the GAME folder, and run it like it was an update?
And then bum, done? O.o
I'll be able to run emulators and other home brew apps, and boot in OFW whenever i want?
That'd be sweet : D
Thanks

Edit: I put the files in the me_installer folder, or the me_installer folder with the files?

[El Guapo]

"me installer" folder into your "GAME" folder. Run it from the PSP(XMB), follow any on-screen instructions and it will re-boot into 6.60ME-1.8

[MirooGamal]

well i just hacked my 1004 psp to become 5.00 M33-6 from version 6.02

what version do u have?