Yes. PSP Firmware 3.90 (released Dec 2007) installs on every PSP model:
Update to 6.61 OFW → Install PRO-C2 FastRecovery (temporary) or Infinity (permanent on 1000/early 2000). Best homebrew/plugin support, plays all PS1/PSP ISOs, runs CWCheat. No reason to stay on 3.90.