Changelog:
Cobra USB Firmware 4.0
-Added initial support to play PSP games in iso format. Please read the user manual for instructions.
-The emulator is not perfect and it currently fails in saving/loading data, but there are several games playable at full speed. We’ve fixed some bugs in the emulator, and it loads now more games that it originally did. In the future, we will continue to improve the compatibility of the emulator and fix the savedata issue.
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Source
Wish my PS3 was still on hackable fw.
