Squidly1 has posted this cool tutorial on his site:
First:
I cannot share the Win95 image (for some obvious legal reasons), so please do not ask me for it. If you look REALLY hard for it you can find it - just not via the web. Googling for it has produced no definitive hits.
How I did it:
I am *sure* there are other, more elegant, ways to pull this same trick, but without the original code to work from - I came up with this compromise...
1. Took the two Bochs directories located in ms0:\PSP\Game and used SeiTool to create a single EBOOT.PBP.
2. I then created a ICON0.PNG for each VM I wanted to load. I can't stand blank icons (I'm a picky one).
Using PSP rew to change title and ICON0.PNG
3. I attached the new ICON0.PNG to each new EBOOT I was altering, and changed the title so that it would post correctly in the PSP game menu.
4. Next, I used UltraEdit32 to open up the "new" EBOOT and searched for "MS0:"
Looking for "ms0:"
5. For the first occurance, I changed the "ms0:/PSP/GAME/BOCHS" to a new directory name, something that fits the five letter space (anything more or less will crash Bochs). With this one I used "BOW95."
Found it... Made my two changes.
6. Next, I looked below and made sure that I edited the "ms0:/VM/" directory to reflect the location I wanted it to look - this time "W9."
7. Saved the changes to my new EBOOT.PBP.
Using Sei Tool for the final install.
8. I then opened up SeiTools and created on my memory stick the 1.50-friendly directories I needed while installing the new EBOOT.PBP. I made sure that the directory on the PSP was set to "BOW95," as specified in my earlier edit.
9. Copied over the image files and related configs to the "W9" directory. Made sure that all instances of "VM" were changed to "W9" in the "bochsrc.bxrc" file.