That WOULD be possible if you did not have a 1.6. The 2nd bank has 3.0.3 installed from factory. IF you did not flash over it then 3.0.3 is still there, and will not work for you. (The reason why the older 3.0.1 is even there at all is b/c 303 doesn't work for v1.6, but instead works on v1.6b.)
You will need to use the backup Bios to boot from, then reflash your chip from there.
Simply press the power button, and JUST AFTER you press and start holding it, also hold the Eject button until you see the X3 switch light up purple.
(Instead of just red, or just blue.)
Once it starts and gives you the option to flash, make sure you have the proper bank selected, and flash your heart out.
NOTE: On On Off Off Off= bank1 on stock switch, and Off On Off Off Off= bank2.
Once you have one bank flashed SUCCESSFULLY and you know it, flash the other so you will have TWO working Bioses, and the "useless for you" 3.0.3 won't be wasting a bank.