fat 1.5 looking for upgrade advice

Hello all, my PSP has been gathering dust for probably more than a year. Today I finally picked up the courage to remove it from my pile of forgotten gadgets and bring it back to life. Obviously after such a long time I have lost touch with the PSP world.

My PSP was downgraded to the 1.50 firmware and the last time it was in operation I was using Devhook 0.46 for firmware 2.71.

Now as you can imagine I'm a little overwhelmed by all this new stuff - custom firmware and suchlike, I really don't even know where to start. I'd like to upgrade my system to play the latest games but also like the homebrew for emulation and what not.

Can somebody offer a little advice? I would hate to upgrade my firmware only for somebody to say "Why the hell did you do that stupid!"
Thanks in advance.

Latest firware is 3.80m33-4 with 1.50 kernel add-on to get there though you will have to upgrade 3.52m33-3 first and then up to 3.80m33 all you need is available here www.dark-alex.org download all the files you need and be sure to read the read me files included but its pretty easy.
And as long you add the 1.50 kernel add-on all your homebrew will work (emu's etc.)

Cheers! That sounds about right.