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Download MPH Downgrader and Firmware version you want(e.g 1.50) to the Windows-based computer. Connect the PSP Slim to the computer's USB port using the USB connector. Transfer the two programs to the main folder of the PSP Slim. Disconnect the PSP Slim from the computer's USB hub when the transfer is complete.
Turn on the PSP Slim. Go to the Settings/USB Connection in the Home menu and select the EBOOT.PBP file in the PSP\GAME\UPDATE update folder. Extract the MPH Downgrader zip file to the root folder of the PSP. Click OK using the X button if you are prompted that this will replace some files.
Go to Photo/Memory Stick in the Home menu. Wait as the screen goes black and numbers appear. Wait two minutes and then press and hold the power switch until the PSP Slim turns off. Release the power switch.
Wait as the PSP Slim turns on and reboots. Go to Game/Memory Stick in the Home menu and select PSPS Update version 1.50. Press the X button to start the update.
Wait as the update finishes and presents an error message. Press the O button to restart the PSP.
funny how you mention the wet at the very end of your message! ;)
sounds like there is water beads sliding around on the electronics inside. i would not start it again until it is completely dry. perhaps put it in the hot water cupboard overnight or something. don't risk it burning out, or worse while it is still moist.
The PSP 2000 (slim) has had problems like this before. I mod psp's and one of them had this problem i fixed it by opening it and taking the screen out to make sure its pluged into the tiny sockits. That was the issue. now it works like new! send me an e-mail at email@example.com and ill tell you where th screws a located so you can proform surgery on your PSP 2000 (slim) lol! surgery. funny. well send me an e-mail. so i can help.