Ye, think so atleast. But before you update make sure you delete the boot-up log and installs the original 3.55 firmware first. (To install Original, Use A Flash Drive).
After that i think you should be good 2 go. But don't fully trust me, i'll may be incorrect.
Btw, if your'e about to install Waninkoko or whatever it is. Make Sure You Have A Compatible Console For It. [CHECK OTHER THREADS] Hope this helped, have a nice day.