No need to update the firmware, the player should be fine now you have formatted the memory.
You will need to run your videos though aviconverter to get the video resolution to match the player, set the resolution in aviconverter to 220x176 if you have a 2" player or 320x240 if you have a 2.4" player.
Aviconverter is available either on your cd or in the downloads section of this site.
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