Yes, I've been able to upgrade then downgrade (and so on) with GTA LCS. I didn't trust the v2 firmware on the umd (though I suspect it's probably safe). I used 1.5 jap fw (I think) and 2.0 "official" fw, as well as the mph downgrader.
So, yes, you can upgrade to 2.0 to play GTA then downgrade for homebrew if you like (as often as you like). Obviously, there's always a chance of fubaring you psp.
Then again, I've -never- had a bad firmware flash on any device. I suppose it's possible, but...
In response to the last poster... other than the chance of bricking your psp while doing the firmware... seeing as how the mph loader is perfectly safe so far as I can tell, the only risk is one would take while doing any FW upgrade... and if it was that risky, Sony would NOT be letting people do it. In fact, with the battery indicator check, I'd say it's nearly idiot-proof.
Well, other than lightning striking (see above) I'd be pretty unconcerned about up/downgrading "alot." Besides, Sony will replace units that die during flashing I'm sure. I mean, the firmwares we're using are perfectly legal/official!
Not that I like having to go thru the process... but until someone comes up with a better solution, this one is perfectly workable!
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