So I can do the built-in update over the air with the settings? Are you sure I will be able to mod it afterwards?AFAIK updating your PSP's system software removes the CFW. There's no reason to worry about system software version anymore. 6.61 (the latest system software version) is already jailbroken and you can easily install CFW on it.
Just update to 6.61 then use Infinity 2.0 to install your desired CFW (PRO, LME or ARK). This method would make the CFW permament aswell so you won't have to launch the Fast Recovery every time you boot your device up, you can just jump straight into homebrew/games. You can just follow one of the YouTube tutorials. I'd personally recommend MrMario2011's tutorial.
That video is 3 years old.... i think its outdated? Any up to date article to take care of this?