You must install 3.52m33-3 first and then go to 3.90m33.
I would recommend going to 3.80m33 as there is no popsloader for 3.90 yet (for playing the ps1 games). The problem with 3.03oe is any newer games needing a higher firmware to run will will need an upgrade so its far better upgrading now to customfirmware than having to take and official update just to play a game.
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