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We'll keep this short and simple, folks. After yesterday's release of CFW 4.01 M33, Dark AleX has followed things up with today's arrival of the 1.50 kernel add-on for 4.01 M33.
For those new to the whole PSP homebrew scene, the 1.50 kernel add-on essentially lets you run homebrew written for firmware 1.50. All you have to do to enable it is copy it to your PSP's memory stick and run it. More instructions can be found in the bundled readme notes.
Anyway, that's it. You can download the add-on below. To those who upgraded (or will be upgrading) to 4.01 M33, enjoy the new custom firmware.