Well, it looks like the new PSP Go didn't last too long, now did it? FreePlay has already exploited it using a game, only two days after it's release. The exploit appears to be working in a way similar to the GTA Liberty City Stories, where a cracked save data is loaded, and loads the exploit.
FreePlay managed to dump the internal memory, including flash0 files. He decided not to reveal how he did it, or what game he used since that most likely means Sony will update the shipping firmware on the PSP Go's.
Unfortunately, this is not going to turn into a CFW, HEN, or any other three digit hack.
Let's face it, at first, we all thought it could turn into something big. But, it's not.
It's a firmware bug, and that's that. I'm sorry for any confusion I may have caused.
Check out the second video by FreePlay, by heading past the break.