eeeyyyyaaaaa dont listen to them (no offense guys) but just stick an official 5.00 update on the root of the memory stick and name it "500.pbp" (no quotations) and run a game called hellcats recovery flasher (newest is 1.65 i think) i have a thread on it. run it, go down to the firmware selected and choose the ofw option over the 5.00 option then (plug in ac chord) install 5.00. ofw. from here, just update via internet.

edit
oh and btw there is no need for a pandora or anything like that. just the 5.00 ofw update and the hellcats recovery flasher.

Easy,

1) Go to recovery mode

2) Click Configuration

3) Change: XMB USB Device to Flash 0

4) Exit recovery mode and plug in your USB to your PC

5) Go to VSH and then ETC

6) Open 'version.txt'

7) Change the firmware to a lower firmware than what you are tying to update to

---------- Post added at 01:12 PM ---------- Previous post was at 01:11 PM ----------

Oh and if that didn't work, quote/PM me.