Well, you've come to the right place.
First, when ever you download homebrew and it comes like this: (anything) and (anything)% that means that homebrew is 1.5 ready. With those two files, put them under /PSP/GAME. Then to play it you just have to go to your memory stick (from the XMB) hit X and then select your homebrew.
If the homebrew you want comes with one file instead of two (ie. missing the folder with the %) then use a program http://psp-news.dcemu.co.uk/kx-exploit.shtml that converts the one file into two.
Hope this helps, but if you need more help then email me.
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