If you do use the program, it appears that there are folders called GPS and USBMIC hidden on your PSP's flash memory. What could that mean? If we're lucky, it might mean that the upcoming GPS peripheral may have support on 2.80 firmware, without having to upgrade! That would be great for those of you that want to get the official device while running these small TIFF homebrew apps.
[Update 1: The application has recently been updated. It can now read UMD data as well.]