Hey all,
Out of boredom I've modified the Team Noobz version of PSAR Dumper so that it'll output the dumps into various folders on the memory stick, based on the version of the updater and which type of dump the user prefers. I've also made it possible to make several dumps on a single program run.
Source/binaries available here.
PSAR Dumper multi-folder output mod
Update: New version released, supports firmwares up to 3.10. Right here.