News/release from Hellcat:

H E L L C A T s - R e c o v e r y - F l a s h e r
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* recover semi-bricks * up-/downgrade your CFW *
* flash *ANY* CFW directely to 3.71-/4.01-/5.00-M33 *
* backup/restore firmware flash (not NAND dump) *
all without Pandora
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Added native support for installing a fresh 5.00-M33

Added option to cache the special modules from all updater .PBP currently on your memstick.
The modules are saved seperately and - if present - used directly instead of extracting them from the required updater (again) when performing a restore of a backup.
This way you can save space on the memstick by deleting the updater .PBPs if you don't need them otherwise.

What is this? And why?
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Short version:
Flashes a fresh M33 CFW (3.71, 4.01, 5.00)
for recovering semi-bricks or to up-/downgrade CFW
does not use Pandora, runns from the recovery menu or the XMB
does not use (as in launch) the original Sony Updater (only extracts
all required files from the original .PBP)
runns fine on CFWs lower than 3.52-M33-3 - handy for upgrading older
FWs w/o the "need to go 3.52, then 3.52-3, then higher" odyssey :-)
runns fine from TimeMachine (3.40-OE on Fat and 3.60-M33 on Slim)
can backup the FW flash and restore selected parts (XMB theme,
settings, PSN activation, complete firmware)

Long Version?
Can be found - aside many other infos and details - in the README

Does it work?
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This program has been tested by myself to successfully flash
a fresh 3.71-/4.01-/5.00-M33 on the following setups:

3.02-OE *) -- on Fat PSP
3.40-OE -- via TimeMachine on Fat PSP
3.60-M33 -- via TimeMachine on Slim PSP
3.71-M33 -- on Fat and Slim PSP
4.01-M33 -- on Fat and Slim PSP
4.01-M33 -- started via DDCv6 (kinda pointless to install a 4.01 then,
but hey, can't hurt to try )
1.50 -- on Fat PSP, using the 1.50 build of the flasher
^^ yes, that reads "one point five", and yes, I flashed directely to 4.01-M33-2 from there

*) Note: On lower CFWs (early OEs, mostly) you may get warnings during
3.71 installation regaring assignments of flash1:
This is normal under theese FW versions, no need to worry.
The program will disable formatting flash1 in that case, so
everything should be fine.

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