The final version of this program has been posted up by RainMotorsports.
These are the changes:

- Added Unicode Support to the backup script.
- Changed to smaller 12kb fresh rip of the TM IPL
- Added detailed error information and cleaned up error handling along with some minor bug fixes.
Installers for 1.50 up to 4.01 are available and [...]

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 [...]