I had similar symptoms... but somehow it was caused by using the card with PSPVideo9.. it put a couple of files (autoexec, icon) on the memory stick, and then the PSP claimed there was no card inserted. I deleted those files and then everything went back to normal, all save files intact.
That sounds like a completely different problem to yours AFX, but perhaps the PSP's memory stick handling is not quite perfect.
That sounds like a completely different problem to yours AFX, but perhaps the PSP's memory stick handling is not quite perfect.

