Thursday the first reports showed up that some guys hacked the Sony PSP UMD disc format and downloaded games from the discs on PCs. Now another story appeared that says that somebody was able to get a hacked Wipeout Pure to run from Memory Stick on the Sony PSP.

I am pretty much against those kind of hacks. Yes the games are expensive with $50 for a new one, but you always can rent PSP games. I like what people did so far with the PSP - the "positive hacks" like surfing the web with the Wipeout Pure browser.
Hacking the UMD format or better cracking it is not really productive in my mind. In any case on psphacks.net a person claims to be able to run Wipeout Pure on from the memory stick. There is a link to a video showing an attempt to run Wipeout Pure from the Memory Stick, but it fails with an error message. Find link in this discussion thread.