It's not that likely that anything would go wrong during downgrading/upgrading firmware. As long as you first charge the PSP to 100% battery and have it connected to the mains power throughout the process there is little that can go wrong.
As it is a new PSP you might have quite a new firmware version on it. This would require using a copy of the Lumines game. I've not tried this downgrader myself, but might shortly to downgrade my girlfriend's PSP so can let you know how it goes.





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