MS_ROOT is the root of your Memory Stick. Hence MS_ROOT. So if your Memory Sticks location was F:\ then that's the root. So if you were in the PSP folder then it would be F:\PSP\.
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MS_ROOT is the root of your Memory Stick. Hence MS_ROOT. So if your Memory Sticks location was F:\ then that's the root. So if you were in the PSP folder then it would be F:\PSP\.