Alright I had alot of problems with this and finally got the hang of it, and I'm imagining other people are since its a new update (that and half the stuff DAX said didn't make sense?). Anyhow this is a guide on how to use DAX's Time Machine.
What is Time Machine you ask? Well its a easy way to unbrick your PSP, not only that but it allows you to put any firmware onto your PSP, the main reason = 1.5 kernel support on the PSP Slim to play HomeBrew App's.
Requirements:
-Pandora's Battery
-Regular Battery
-Magic Memory Stick A.K.A. MMS
-Custom Firmware 3.90m33-2 (this version of TM can only handle this FW)
Anyhow to start off the guide download this link with all the needed firmware's ect.
Download Link
Once you're done extract the files to the root of your MMS.
Boot up normally with a regular battery on 3.90m33-2, then hit GAME > MS > Time Machine. A installer screen will show up, Hit the First Option(install IPLloader) Then hit the second option after the first is done(ConvertPandora). If your on a slim then hit the 4th option which is : Install 1.59 with 3.40 hw modules (phat&slim)
Let it finish its longer then usual install which takes about a minute or so.
Then hit X to Exit, and Pull out your battery.
Now insert a Pandora Battery and hold O (to boot 1.50 on slim)
You'll notice 2 things, the Memory LED will blink crazily and that you can now boot and use your Pandora Battery as a normal one!
All thanks to DAX.