This may sound really stupid but,
Do you need 5.00 M33 installed on psp before you install 5.50 Prometheus? The tut says how to UPDATE to 5.50 Prometheus, so i am thinking if i skip installing 5.00 M33, it will brick the psp..
I think? I installed 5.00 m33 first THEN I installed 5.50 GEN D3 AND Prometheus. It's better to play safe...
Also, should i format memory stick before i start installing cfw?
No not really important. I just updated it and i didn't format and everything works fine
What can i delete after im done installing cfw?
You can delete Hellcat, Prometheus and 5.50 GEN D3 Updater(once you have 5.50 Prometheus) and basically all you have downloaded.