This is some excellent news indeed. Currently working on firmwares 2.00-2.60 (2.70-2.80 work in progress) this is an image exploit that loads eloader. So instead of loading GTA and loading up the eloader savegame, simply go into your images, into the eloder folder and hey presto.

Eloader 98 "porter" (http://pspupdates.qj.net/eLoader-0-98-Porter-2-0-Homebrew-for-PSP-without-GTA-/pg/49/aid/64700)

Enjoy