Latest Way to Homebrew

Well, I haven't been in the PSP "scene" lately and was wondering which is the latest way to 'brew a Phat. Still UPMS?

I haven't messed with it in a while but if you use an old version of UPMS then you can upgrade from there.

feel dub asking, what does that mean? its a method, but what does it do?- duh how does it work?

Oh it is a program that turns a battery into Pandora and vice versa, as well as the Magic Memory Stick.
It comes in a CSO file and you select different settings as to what firmware you want loaded on the PSP you customize.
It also lets you install other programs on the PSP like key cleaner and nand restore and backup.
I haven't messed with it in a while but it was by far the easiest method I have used.