Perfectly possible, CFW hides your MAC adress. You're basically un-bannable. There aren't many Multiplayer games though, so prepare to use X-Link Kai. Alot. That, or PS3 Ad-Hoc Party.
You should update to 6.60 - the only differences are regarding stability, and you can still do the Permanent Hack anyways. From what I've read right now CIPL Flashing has been reduced from a painful operation to pressing X and waiting 5 seconds, so it's easy as pie. Update to 6.60 OFW (easily googlable, I can PM you links if you want), Update PRO CFW, CIPL Flash, done.
A little bit off-topic, but I'll recommend you a few good Plugins and Apps seeing that you're new to the platform:
RemoteJoy v20 (Play your PSP games on a monitor using mini-USB) Popsloader (Enhance your Playstation (PSX) compatibility) Audioboost (Improve maximal volume if you feel your PSP is a bit too quiet. Improves it by about 20%) Mp3Play (Play MP3's while in-game, normally unavailable)
Recommended Homebrew:
Xplora (File explorer, text editor - a must when you're on-the-go, and it's less complicated then the more popular Filer) Netfront 4 Beta (*Massively* improved stock web browser, now using all of the RAM rather than just 2Mb) Go!Tube 1.2 HMM (Youtube in your pocket, among other streaming sites)
I usually don't leave my cozy gaming grotto without those loaded up, really helpful tools, worth the download.
This post has been edited by Foxi4, Thu, October 27th, 2011 at 19:58