Wow,
it is rare to see a psp with that firmware nowerdays

I am a bit rusty but you should be able to do it all by yourself without a second PSP.
As far as i see it you need to upgrade to
2.00 OFW before you can use
THIS GUIDE to downgrade to 1.50.
Then from 1.50 you should be able to use
THE 5.00M33-0 INSTALLER to install 5.00m33 custom firmware.
Then you should update to
5.00m33-6Before each step read the full guide.
If you have questions ask them.
There are no stupid questions. Only a PSP that wants to be used
