This does NOT belong in UMDGen Chat... you need to read the
Tutorials in the STICKY thread in the PSP Chat section and search there for 90+ page threads on getting started in various areas. NOBODY is going to re-type it all for you when it's already in other places on the site, and NO, you don't want to upgrade to 2.0 unless you want to play the newer (original) titles from UMD. If you're seeking to play older iSOs or homebrew then stick with 1.5 like the rest of us have.