Not sure I'm, alowed to mention 'other sites' here, but I speeded up my fake stick totally by formatting to FAT16; don't know why it worked but it did (this is for 4gB ones):
http://www.psp-hacks.com/forums/about70024.html
"Before you go any further BACKUP THE MS CARD to your COMPUTER
Say your PSP drive is X
1. Go to Start-> Menu-> Run...
2. Type Format X: /FS:FAT space between : and /
Use windows explorer to reinstall your file structure on the card afterwards
then try your card again"
(Don't worry about the message about 64kb clusters or whatever; that's fine)
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