Have any of you tried this?, I would be interested in getting this working for some emulation fun myself. Im guessing this isnt a working hack, but more of a proof of concept, as running an image on your psp cant help run software... can it?
EDIT
I have just done it, and it nearly crashed the PSP, it brings up the wobbly text as it should, but it wouldnt let me exit it or turn off the PSP via the power switch, the only way I could get back to the main screen was by removing the battery while turned on. So use it at your own risk.