My psp will not update. I have 4 different games with updates on them and none of them work when I try to update the system. It will get all the way to the actual update and then say that the disc cannot be read on all of these discs (which work in another psp just fine)and then won't allow me to back out of it at all and the only way to restart the system is to take the battery out.

Try going to http://us.playstation.com/support/systemupdates/psp/ and download the latest system update, download it with your pc. Then plugin your psp, and go to X:/PSP/GAME. Then Create a folder called "UPDATE", place that .pbp file in there. Now go to the game tab on your XMB and click memory stick. Run the system update and it will update.

If the card works ok on other systems but not your PSP it sounds liek an issue with the PSP. You can try another card just to be sure. You could also try updating your system software on the PSP to see if that helps at all.

try to update a different game then try the first one again

waps do work,but it is most convenient with wep or none,or you may have the gen custom firmware please update to m33

try using a different firmware, if you official firmware then try going to ur network update and install the latsest firmware! you network update is located on the very far left of the menu and the very first one!

if you CFW then i suggest not updated Official FW and find and better CFW!

if you dont have wireless then try googling sony psp update and look for a newer firmware. amke sure its newer then the one you have. go to system settings then system info to see ur firmware!. then when you get the file put the file it self in a folder named UPDATE make sure its all caps and put it in your psp memory card located in the psp/game folder.

Firmware 3.60 is rather old, I would suggest upgrading to 4.01 or something in between before jumping to 5.02, this may clear the problem.

The network update feature of the PSP usually works better than when downloading via PC because there is less room for error. After you upgrade to a 4.xx firmware, try using the network update again.

This may lead to the same problem, but here goes.
Try an earlier version of firmware to update to first, like 3.80, 3.90, or 4.00. You can get those here: http://www.psp-hacks.com/category/36 Download the update file, apply it to your memory card, and try installing the older version.
If you get the same problem, try dumping all of the contents of your memory card to your computer, title it "PSP Memory Stick Backup" or something along those lines so you don't lose it. After you clear the memory card, reset your PSP to the original settings under System, System Settings, Restore Default Settings. Then format your memory stick with the PSP's format option. Try any of the updates and then put everything back on your memory card.
If none of that works, I guess it would be time to call Sony.

visit the website us.playstation.com/psp/About/SystemUpdate/pc.html

I have had the same problem and i fixed it!! the way i did it is I used (key cleaner). this program basically cleans bad keys. These bad keys are causing the problem. The version to download is 1.4. Also i have the thick PSP.
This is the website
http://forums.maxconsole.net/showthread.php?t=56265

The last CFw Update is 3.71M33-3.

What is version on your PSP? (on PSP Menu, move across to the "Settings Menu". Scroll down, select to "System Settings" > "System Information" and you should see version of your PSP.)

Here's, how to install CFw Guides. Hope this be of some help/idea. Pls post back a detail should you need additional information. ^_^