NOPE, You cant.
The cfw is PSP only (PSP-Emuator in Vita is sandboxed).
Watch wololo.net for more detailed infos.
Greetz 7
I'm just gonna assume you completely misunderstood his post.
As long as the game requires FW 3.01 or lower, you will be able to play it. If there is a FW update available, don't install it, as it will remove the exploit. You can still download stuff from PSN though. Look through the forums of www.wololo.net to be sure though.
PSP games, yet. Vita games, no.
There's already a new game exploit being announced on Wololo.
Get it before you'll miss your chance.
Haha dude you made the same failure as i did, thinking he want to pla vita backups. He just wanted to know if he can play the latest games (life FF-X HD) oon his Vita while stayin on of 3.01 cause of TN-V4.^^