After a seemingly long awaited weekend, Team GEN has released their custom firmware 5.50 GEN-C. This latest update allows users to play games requiring OFW 5.55 and 6.00, without having to patch the ISO. Please note that this is for PSP-1000 and PSP-2000’s (v1 and v2) only, the 5.03HEN-A will be updated here soon for everyone else.

Download: CFW 5.50 GEN-C

Here is the official changelog:

• You can now run 5.51 and higher games without having to patch the UMD or ISO.
• You can now run protected games such as Soul Calibur.
• You can now launch PSN Demos without having to patch them.
• Can connect to PSN Media Go! without having to install the utility.
• You can use XGEN Updater to install OFW 6.10

And here are the known bugs:

• There are some issues playing videos at 480×272
• IRShell can no longer launch ISO Patch.
• Option to increases MS reading speed has been disabled.

UPDATE: There have been reports of some freezing issues after updating, and it is recommended that you format flash1 (via the recovery menu) immediately after you update to avoid this issue.