Developer wololo (author of Wagic, the Homebrew?!) put up a very interesting guide on how to find savegame exploits in PSP games, a very valuable thing to find while the quest is still on to hack the 3000.

In his guide, he cited an attempt by a fellow going by the handle yyoossk to find an exploit in Phantasy Star Portable using the same method that was used to find the exploit in GripShift.

While the results weren't spectacular, they're still interesting, if only for a point of discussion. The attempt to exploit Phantasy resulted in crashing the PSP (which is a good thing when looking for exploits), except, it didn't yield any usable results.

So was it a fruitless effort? Wololo explains:

Not exactly [useless], it is a bug, so there might be a way to exploit it, but when a jump is not obvious, you’ll spend less time looking for a crash in another game and try again, really. Looking for a jump that might not even exist is not fun and could take hundreds of hours, it’s just not worth it.

[...] When someone comes with a potential exploit, you can be sure some serious guys will give it a try if it’s worth it. If after a few weeks there is no “serious” discussion on the issue (involving code or “proof of concept”files), you should lower your hopes.

Useless exploit? Only time will tell. For now, budding coders will benefit from taking a look at the guide, which offers a very good look into the world of exploit hunting. Read it after the source link.