You need a PSP running a custom firmware; most custom firmwares seem compatible, or a PSP using ChickHEN and CFW Enabler. On the PC side you need Windows 2000, XP, Vista or 7 — both 32 and 64 bit are supported. A multicore processor is also recommended.
PSPdisp v0.4:
New features:
new USB driver based on WinUSB, that is compatible with 64 Bit versions of Windows (no driver signature check problem)
previous libusb based USB driver still supported
new audio recording mode for Vista / Windows 7 which uses software loopback, no longer requiring a “Stereomix” or “What you hear” device
increased USB transfer speeds (60 fps reachable with all compression quality settings)
new “Uncompressed” quality mode, doesn’t apply any compression to the images resulting in less CPU load and best image quality
PSP CPU speed now configurable for USB mode
increased character limit for the IP address / server name dialog
IP address is now also shown on the WLAN tab of the options window
audio streaming can now be completely disabled in case of problems
new option to hide the mouse cursor on inactivity
new control file option for analog mouse cursor movement with the analog stick
added intaller option for creating a Windows-Firewall exception for PSPdisp
Bug fixes:
CPU speed control for WLAN mode fixed
fixed WLAN timeout problem mentioned in the v0.3 known issues
PSPdisp now stays in SideShow mode when the screen resolution or geometry changes
various interface bugs fixed
rapidly enabling/disabling or attaching/detaching of the PSP in USB mode would trigger an exception
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