QUOTE(funnyTONE @ Nov 9 2008, 11:43 PM)
Hi guys, need some of your expert advice on PSP.
I own an old fat PSP using 3.40 OE-A firmware. Its been good for me ever since I first installed it. No problem playing games or movies. I can play FF:CC and GoW without problem.
Only thing is, I think it would be right for me to keep current with the latest firmware. I've been away from the scene for too long, so to read back all the issues regarding previous version of firmwares is painstaking.
Can you suggest what is the best/stable firmware that I can depend on for a long time. I'm not looking into upgrading my firmwares in a weekly basis. Once a year is good for me.

It would help if you guys give me a rough guide on what to do first and next. A good guide link would help too. Thx in advance.

Alright,you may not face any obvious problems when playing certain games even though it requires a firmware higher than your current firmware,but savedata errors are very common where it may freeze quite a number of time when playing your game.Happened to me before.
Now,about upgrading,you should either ugrade to 4.01m33 or 5.00m33.They're both very similar and equally good.I shall provide you with a guide on upgrading to 4.01m33 as the installer for it is a little better.There actually are two easy methods to upgrade your psp firmware.
1) Normal way : 3.40oe-a --> 3.52m33-4/3 --> 4.01m33
2) Reflashing way : 3.40oe-a --> 4.01m33.
I'd recommend you to use the second method as it saves much more time and it's very good as well.I've not bricked,even once using it

Check my guide on this upgrade method right
HEREJust follow the 4.01m33 part (Ignore the 3.71m33 files and so on).
Good Luck!