Just curious, where did you find a 32GB M2 card??! I thought development for them was discontinued and only 16GBs were released. I'm interested in getting one if you provide a link.
EDIT:
Also, to answer to the thread, yes the PSP Go is hackable. I have one that's perma patched to 6.20 Pro B9 and I followed Rydian's hacking guide word by word in this section. So I recommend reading that up. You need to use PSPident (don't need CFW, just put in game folder) though so you can find out your Go's model number. If it's 5g and below, it can be downgraded to 6.20 and permanently patched, or go to higher firmwares and use the CIPL flasher or quick recovery. The latest CFW right now is Pro B10 (I gotta update myself lol), so use that. Also, from my experience so far, PSX games have been working flawlessly on my Go's original flash and I've yet to use Popsloader. It's nice to have it installed though in case you run into a problematic game.