Id rather do your first option, but can you explain it a bit more?
Dark_AleXs custom firmware is the better optiob, but any way heres a little guide i made. If you ever get a new game that requires 2.81 or high you might want to consider the custom firmware as it can run all UMD that are available at the moment.
- Installing eLoader
Download the eLoader here, grab the 0.995 auto installer from the list
Connect your PSP to your computer and run the program you just downloaded (The eLoader).
Select your PSP's drive letter, then click next.
From the drop down menu select "TIFF version only"
This will copy a load of files on to your PSP.
You launch eloader by try to view an image inside a folder called "eLoader 0995" from the PHOTO option on the XMB
This causes a program to lauch (The eloader)
From here you can chose a list of homebrew (Apps, emus games etc) you have installed on your PSP.
-Installing Snes Emulator
Download Snes9xTyl from here
Extract the contents and copy the folder inside the 1.0 folder in to X:/PSP/GAME/ on your psp.
Put your ROMs in X:/PSP/GAME/snes9xTYL/ROMs
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Launch the eloader and select snes9xTYL from the menu.