At 3:28, he shows us clearly that the PSP Slim he was using was running on TA88v3. I could hardly believe my eyes at 5:20, the screen flashes this message, "OK! Your PSP is hacked, Thank your for usage." With grammar aside, the message did indicate that the PSP was indeed hacked. He then makes use of another memory stick, then shows the camera that the PSP runs on M33-2.
It's a bit hard to tell from the vid alone, especially when we consider that the files haven't leaked just yet. PSPGen is currently in contact with Despertador21, who thankfully is open to dialogue. As far as the video goes, it seems pretty legit. Hold on to your seats, 'cause we might be getting a very welcome belated Christmas gift.
We'll keep you posted on further developments and the authenticity of this hack.
Thanks big time, DB, for the heads up!