Team Noobz have released a modified version of the firmware extraction utility originally developed by PSPpet. The new release of PSARDumper supports decrypting 3.01 and eariler firmwares for the PSP.

Great work Fanjita

Download PSARDumper with 3.01 Support

Read more: PSARDumper with 3.30 Decryption, 3.80 PSARDumper With KL4E Decompression, PSP Firmware 3.50 Hello World!, PSP Firmware 3.71 Decrypted, New PSARDumper Released, PSARDumper with 3.10 Support