Before its even asked, this will NOT work on a 3000 or a TA-088v3 slim. You will BRICK!!
Note: please disable all plugins before updating..
Try the new XGEN simple installer. This installer installs 5.50gen-b2 on all 1000 and 2000 models(NOT TA-088v3) from any firmware 3.71m33 and above. No longer do you have to do 3 seperate patches to reach 5.50gen-b2! This installer can also change the prx's in DC8 to create a 5.50gen-b2 magic memory stick for a fresh pandora install. The instructions are included with the download.
Download: http://92bf60cc.seriousfiles.com
Here's the DC8 installer. This creates a magic memory stick that installs 5.00m33-4. To make it install 5.50gen-b2 use the XGEN installer to patch the DC8. Instructions included in download. (USED for unbricking a psp with a pandora's battery)
Download: http://95c1b32c.seriousfiles.com
Credits to cheese661