When i get to this bit the 3.52 update it says incorrect psar ? 6 - Go again to Games/Memory Stick on your PSP, and execute "3.52 M33UPDATE". You'll have to press X to agree to the installation. 7 - When finished, press X to shut down and reboot manually. 8 - Enjoy your 3.52 M33
you need to update it to -4 and then you can update to 5.00m33 http://exophase.com/psp/psp-custom-firmware-352-m33-4-released-1756.htm