Ive been speaking to an insider tonight on IRC and he has a Euro PSP already and he confirmed to me that the firmware on the PSP is v1.52 he also said that the UMD demo has the upgrade to V2.0 on that, so you have been warned.
At this time theres no way to play homebrew on either v1.52 or v2.00 but Yoshihiro has already successfully downgraded a v1.51 Japanese PSP down to v1.5
So much for Sony releasing in Europe the V2.0 from the word go