I bought a brand new psp today and was trying for last 2 hours to connect it to my wireless network but each time it display an error code 8041160B. I called my internet service provide and we changed the WEP key but i am still getting the same error code. One weired thing I noticed that psp shows only 8 digit WEP key while my key is 10 digit. I don't know why psp doesn't show the 10 digit key. Also, the same issue happend 6 months ago and i was told psp network is closed as people ids have been stolen so i returned my psp and it seems i will have to return it again. much disappointed.
Your eight character key sounds more like a WPA key - the higher and preferred level of wireless security than WEP. Check in the router that your key is actually a WEP then make sure the PSP is looking at the right network and using the correct key. Older PSPs could only recognise WEP but yours, bein gnew, will be capable of joining a WPA or WPA2 secured network - maybe your ISP misunderstood and changed you to a new WEP key.