Yes you must format your mem stick just back up all your stuff to your pc and then format then use the 2.80 easy downgrader from csfreakno1 and it will put all the files where they need to be automatically then reboot psp full reboot not just a soft down when it has rebooted go to photos goto x-loader 280 open it nothing will happen this is normal and you will know if xloader has worked cos when you come out you will have no sound when moving around the screen then go to your mem stick and go to downdater for 2.80 ta-079-081 and press X it will load and then press O and it will start downdate wait till its finished it will say finished power of to exit hold the power off for about 10 seconds your green light will flash and then shut down then reboot and your on 1.5 and its well considering 3.02oe-b cos it awesome (just remember you downgrade at your own risk it worked for me but its your choice)
GOOD LUCK!