Viper Zero
Emulators are not illegal, ROMs are. Unless you pull an image straight from a cart you physically own, you are breaking the law.
Nintendo would dispute that with you - they feel they own the intellectual property to whatever a Nintendo emulator emulates. Go ahead and look on their website.
On the other hand, this does not go for something like the Atari ST emulator. There are no more copyrights claimed for neither the machine, nor the OS, nor the software.
I very much suspect the same goes for the C64 emulator.
But I already told you that the internet radio software is awesome, as well as the PDF reader - remember, this means you can very nicely read ebooks (directly as .txt files is really, really fast) and anything else you can print on your PC on the PSP (through tools like PDF Creator, which appears as a Printer driver). and with the WLAN code being almost completely sussed now, homebrew will kick into high gear pretty soon.
If you have 2.0, you can go back to 1.5 and back to 2.0 again. If you have 2.01, you can't do anything, as it specifically fixes that hole and nothing else. I don't buy your comment on the WEP key to be honest, that sounds like a user problem that you accidentally fixed by resetting the firmware.
And finally, if it was illegal to have 1.5 on your PSP, then that would be very interesting. Since I bought a 1.0 PSP, and upgraded to 1.50. I just never upgraded after that. Going to be interesting to hear how that's illegal.
In the meantime, I run no ISOs and I have 4 games: Lumines, Ridge Racers - already played to the full 100% - Wipeout and Metal Gear Acid - this last game I'm starting to appreciate more and more, now that I've unlocked 'swallowtail' - and 2 movies: AVP and Spiderman 2.
I say that the people who really like the 2.0 browser are right to stick with 2.0, but the rest ... And there's a good chance that in the near future, homebrew will actually release a better browser. Even if I needed the browser in 2.0, I would steer clear from 2.01 just in case.