Many Sony PSP owners who are into running homebrew code are not upgrading their PSP to the recently announced 2.0 Firmware. Now an anonymous programmer found a buffer overflow in the Sony PSP Firmware 2.0 that might one day bring homebrew code to 2.0, unless Sony is filling the hole earlier with a new firmware.
The buffer overflow is somehow achieved with custom code embedded in an image file. Again door open, but still very far away from running homebrew on the 2.0 firmware.
All the details on PSP Updates.