- Geohot has released a custom hacked PS3 firmware v3.55 which you can download from his website.
- The firmware basically jailbreaks your PS3 allowing you to install custom packages.
- What that means is that it is now possible to run signed PS3 homebrew apps on your PS3. That does not mean you can play pirated games.
- For would-be homebrewers, you can grab a PS3 SDK from PSLight.com and sign your executables using these tools.
- Geohot also made this video showing the firmware in action:

- Sony have said they will fix this with a newer firmware, but the fail0verflow team tell the BBC that their calculation of the signing keys used on the PS3 mean