It is 9.7.0-25U. I'd like to code some homebrew for it. I got it and its like my "portable gamecube", i love my device.
Just like how KJ1 mentioned they work on the latest firmware, I need to mention that you cannot run homebrew from the flashcart
(Unless you use NINJHAX from the CubicNinja rom, which I presume is what you want to do), and you also cannot run hacked roms, only official dumped roms that haven't been tampered with, or hacked.
Oh, and on the matter of TV-Out, I doubt that would ever be possible without a hard-modded console (Capture Card).