yes but its high risk lots brick ( stop working)
the factory reset is only there to fool shops so it can be sold on
when you got it did it come with a memory card? if so put this in your pc and look for a file called (NAND)
it's not the update that is stopping the game it's the wads/iso it's running you need it to be running iso 222, 249.
sorry for the geek talk
give me a list of the games and I'll see what I can do for you