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Yes, you have read the title right - 2.50/2.60 Downgrader. Dark_Alex, along with Mathieulh and Yoshihiro from SonyXTeam, have released the first working 2.50/2.60 downgrader.
If you updated you PSP to v2.50 or 2.60 read this little tutorial to downgrade it to v1.50.  

If you own a PSP (any firmware), then I'm sure that by now you've heard something about the ability to run homebrew. This article is to help those of you who haven't yet done so and wish to.
This guide describes the way to run homebrew in PSPs with firmware 2.01 and above.  

Here is a guide for XviD4PSP, a video/audio converter shell program for PSP to version v3.002a . This program uses several video/audio converting modules to extend its compatibility for all kinds of video/audio clips, including PMP.  

This is a great solution to the PSP's nub being so small and having such a bad grip. We just convert the PS2's nub to PSP.  

How to play GTA and More on Your v1.50 PSP  

So you’ve heard about this homebrew thing that all the cool kids have been doing, but you have already upgraded to version 2.6 of the firmware so that you could play all the latest and greatest games on the PSP. Fortunately for you, some very diligent hackers have been working round the clock to discover ways to get around the limitations put in place by the latest firmware.  

Here is a detailed guide to help anyone who wants to rebuild PSP games. With VCDROMX rebuilded games always works without errors.  

It has finally come! A PSP 2.00 downgrader by MPH. So many PSP users who wished to run homebrew on their device were stuck with newer firmware such as 1.52 or 2.00.