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Alright,about the Pandora's Battery,it's very simple really.A psp would usually boot to it's flash 0 once you boot it up (From a full off situation).Once it's booted up,it'll load each .rco file at the time (Battery icon,menu icons etc).By booting it to flash 0,you wouldn't be able to hack psp's which have firmware 3.50 + installed on it.In order to prevent the psp from booting into flash 0,the Pandora's Battery was developed.It's just a normal battery of course lol.The Pandora's Battery would boot the unit into service mode instead of flash 0 allowing users to carry out any flashing they want.In other words,the psp will NOT boot up to flash 0 as it'll always do.Here comes the part of the Magic Memory Stick (MMS).Once the psp is booted into service mode,you won't be able to do anything,unless you have the flasher files in your memory stick.So,it's simple.The memory stick won't work without the battery,and vice versa.
C-Note

As for you doubt,no.You would NOT need to Pandorize your battery everytime you change your battery.As i explained above,the Pandora's Battery and the MMS would be required ONLY once when you brick or when you want to install custom firmware.Once you have it done (custom firmware installed),you can use any odinary psp battery and us your psp like usual.Simple isn't it?

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Added on November 5, 2008, 7:28 pmHey wetfusion,thanks for clearing that up man