The same group (with no official homepage) who released the V2.0 exploit yesterday have today released a new what they call a Pure Binary Loader, heres the readme:
Pure binary loader.
* it's loaded at 0x08810000
* it's max 64 kB
* it's pure binary MIPS code
* you have to use syscalls and not NIDs
* it runs in user space!
* it's called h.bin (paint screen blue yay!) in the root of the MemoryStick
Set the frame_buffer.png as background like before and Place the new overflow.tif in the photos dir and the h.bin on the memory stick. It loads ms0:/h.bin
Interesting stuff eh, the 64kb limit is going to be a major hurdle but at last it SEEMS that things are looking up for PSP V2.0 owners and a much safer way than flashing your firmware.
Download via the comments (can V2.0 owners upload screens and post any findings.)