Fake, that's not a problem. Even he can get the custom firmwares and then use the the latest functions from the 3.XX firmwares
Though what you say is true about the ease of installing a custom firmware and using most of the latest functions as well, Please don't tell everyone there is no risk involved. Any time you flash your PSP, or any device/hardware for that matter, even with the original Sony firmware there is a risk of bricking it. As minimal as that may be, there have been plenty of horror stories.
Now personally when I had my PSP I must have reflashed that thing 30 different times during the year or so I had it and never had any issue. I felt the possible risk involved was well worth it and it was. Great device. PS1 emulation, SNES, TG-16, GBA, Genesis, Arcade, etc.. etc.. etc... Tons of homebrew apps and much more.