Similar issue
In case it ever helps someone.
My PRS-300 would not turn on. I charged with the PSP adapter, charged by USB, tried the paperclip, even paperclip+down+0 - nothing changed - all I saw was a red light when connected to any charge source.
What eventually worked was disconnecting it from USB, holding the power switch to on, and reconnecting the USB. The power light went amber instead of red, and a moment later it booted.
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