If I flash my PSP to this firmware, my PSP would technically a permanent 3.03 OE-B. Now if a 3.04 or whatever higher comes out and OE firmware comes out for that, how would one go about upgrading?
I ask this since I'm a devhook user and changing the files on a memstick seems simple enough, versus this method, and would appreciate any clarification.
It's not permanant in that sense.
The comments about it being permanant relate only to the fact that it is always enabled and is not cleared down after a HARD reset (or battery removal). i.e. You don't need to turn it on or off like in DEVHOOK (which is Temporary).
In DevHook firmwares are temporarily in memory - so when you run DH it is emulating firmware x.xx. If you then hard reset your psp the memory is cleared and DH isn't emulating anything anymore because it's not running.
Hope that makes sense. (?)
For future versions - you should be able to directly upgrade if you so wish (with some exceptions).