Raing3 has updated his handy PSP Tool eboot, which can: Backup and create the battery EEPROM, Restore Idstorage of the PSP, Create different Magic Memory Sticks, format the memory stick and much much more.
PSP Tool v0.8 changes:

Added options to create DC3, DC4, DC5, DC7, DC8 or an original 1.50 Update Flasher Magic Memory Sticks (read [...]

If your in the need to make a Magic Memory Stick (MMS) in a hurry then Rain’s UltraLite MMS Maker for 5.00 M33-4 (Dcv8) is the answer for you. With this windows program you’ll be able to quickly and easliy make a MMS required for flash a PSP to custom firmware 5.00M33-4, when used in [...]

Nick Swardhhas released PSPVC 3.30 (PSP Video Converter 3.30) This release features many improvements to the way subtitles are handled and various bugfixes.
Changelog:

Improved subtitle alignment
Added “Drop Shadow”, “Shadow Opacity” and “Shadow Distance” options for subtitles
Added support for domain entry in PSPVC Server
Replaced “Sharpen” with “LimitedSharpen”
Unlocked “CMP” (Motion compare functions) in “Advanced” tab for stronger compression
Fixed [...]

KG6ZVP has updated his video converter to version 1.04.
Features include:

Auto Gordian Knot Style DVD-Ripping (Drag and Drop first VOB of a Title)
Support for 720×480 Encoding
No longer a need to select Aspect Ratio (4:3, 16:9, etc.) Simply select NTSC or PAL and it will automatically figure out the rest!
For DVD-Rips, select the display aspect ratio of [...]

DJB has released version 2.7 of his Pandora Deluxe Pandora tool. This version brings only a few changes as seen below in the changelog.
changelog:

Fixed bug with unpacking files that was in v2.3 – v2.6.
Updated the following Support Tools: Hold+ 3.2 (XMB)

Source: Release thread
DOWNLOAD: (Full version) Megaupload Mirror – Adrive Mirror
DOWNLOAD: (Update pack for v2.6) Megaupload [...]

Want a nice and easy way of converting videos for your PSP? KG6ZVP has released a converter that does just that. A key feature of this app which I like is the ability to make DivX videos for PSPTube.
Feature list:
>All profiles have been tested under and fully support the video specifications for ANY PSP using [...]

Fresh from RainMotorsports, creator of the UltraLite MMS Maker:
What this does:
In short this program can Inject, Dump, Erase and Check Memory Stick IPL’s. It can also provide diagnostic information on the Memory Stick. The Time Machine IPL, Boosters Multi IPL, z3ros0ul’s Single IPL, z3ros0ul Multi IPL, Classic Pandora IPL and both TA-088v3 ID Test [...]

Homebrew dev Albandu51 has released Tool HB 1.1. What this little homebrew application does is allow users to easily edit eboot files. Change icons, rename the eboot and extract icons from a eboot.
Source: QJ.net

PSP Video Converter (aka PSPVC) version 3 has been released. This program will basically convert any movie format to a format which can be played back on your PSP.
* Improved audio sync feature
* Improved “Trim” function
* Added an “Audio Track” option
* Add your own “video-download” scripts (PHP / ASP etc…) Read More!
* Added support [...]

Hellcat has updated the ever useful recovery flasher to version 1.40.
The version brings about the ability to flash to 5.00 M33. Here’are the other changes:

Added native support for installing a fresh 5.00-M33
Added option to cache the special modules from all updater .PBP currently on your memstick.

The modules are saved seperately and – if present – [...]

This is quite a big release (bunch of releases).
RainMotorsports decided to abandon his previous maker and go for an “UltraLite” solution. There are separate installers available from 1.50 to 4.01.
Download links and mirrors have been provided by RainMotorsports at the forums here.

We love to see our favourite programs get updated frequently.
DJB has just upped his MMS installer to version 2.3.
This version brings the following changes:
v2.3 (2008-10-11)
- Fixed problem with 1.50 Kernel Addon selection.
- Added the following Support Tools:
Hellcat’s Recovery Flasher 1.32 (Pandora)
AutoStartPRX 5 (XMB)
CPU-Modulator 0.20 (XMB)
CW Cheat 0.2.2 [...]

Weltall has released an update to the popular CWCheat universal cheat system. It includes various optimizations to help reduce the size of the binary. Here’s the changelog:
CHANGELOG:
0.2.2 REV.D RELEASE
=====================
- [ALL] Now > 4.x firmwares are checked for the sony msfatmod thread suspend bug and the check of the memory stick space is disabled to avoid [...]

DJB has updated the all-in-one Pandora package to version 1.1. If you aren’t already familiar with this program, it lets you create a memory stick for use with a Pandora’s battery and perform many functions.
You can find out more about the program along with the download links at the forums here.

Developer DJB has released his all in one pandora app:
Release Notes:
Here you have it, an all-in-one solution for your Pandora Needs.
This program is designed to prepare your PSP Memory Stick to be used with the Pandora Battery. Unfortunately this program can not change your Battery to Pandora, however it will copy programs to the Memory [...]

Hellcat has released revision 4 of his Pandora installer, this utility easily allows users create a Pandora Battery (service mode battery) and a magic memory Stick.
This release called revision 4a adds an easy install option for Despertar Del Cementerio v6, Dark_AleX’s latest universal unbricker application.
Source: eXophase forums

Homebrew developer Hellcat has released a minor update to his Recovery Flasher. This utility allows users to reflash their semi bricked PSP without a Pandora battery
Version 1.20 adds a low battery indicator, file browser and a safety check of the updater .PBP used for Firmware extraction.
Changelog:
* can now install 4.01-M33-2 as well
* installs 3.71-M33-4 now [...]

Homebrew developer Hellcat has released an homebrew utility that can easily restore semi-bricked PSP units without the use of Pandora. Called Recovery Flasher it can be run from within the recovery menu on any PSP running CFW. Its also possible to install custom firmware 3.71 M33 using Recovery Flasher.
What is this? And why?
* Flashes a [...]