Well today (Sept. 1st) was the European launch of the PSP unit. They ship with v1.52 firmware installed, but include the v2.00 update on the demo UMD that comes with the package. There is a notice in the package that states "Important! Before using your PSP (PlayStation Potable) system for the first time, insert the Demo Disc included in this pack and switch on your PSP for the latest system for the latest system software update. It is only necessary to insert the disc once.", trying to intimidate you into upgrading? Currently there is no way to downgrade from firmware v2.00 back to the hacker friendly v1.50. Someone posted last week that they have found a way to downgrade from v1.51/v1.52, and that information is supposed to be released today.
If you want to check out some screenshots of the French Virgin Megastore launch click on the Jeux-france website.