3.03 Open Edition is a custom firmware for your PSP, It is created by the world famous Dark Alex. The most up-to-date version is named 3.03oe-C, it was released yesterday the 25th jan.
so what is it? It is a Combination of two official Sony firmwares, Firmware 1.5 and Firmware 3.03. So what are you getting? Well the features from 1.5 like homebrew launching ability, firmware tweaks and much more. Plus all the features from 3.03 such as web browser, flash support, rss reader, ps1 emulator, camera compatibility , ps3-psp connectivity, music visualizations and several new audio & video codecs.