DickyDick1969 has updated his popular media player for PSP today, and according to the author it's been tested on CFW 3.52 M33-4.
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-not based on pmp_mod, uses mp3 hardware decoding and plain software decoding (no me.prx needed)
-completely from ground up
-color info not right yet, need to implement yuv->rgb
-a beta, not all functions yet ported
-when in movie no stopping yet (test with small movies)
-sound still skippy