The great "Geo Hotz" who initially hacked the very first iPhone to work on all service carriers, is now making front page news once again. This time Mr. Geo makes news, by exploding the PS3's hardware and software, in which he described as a "very secure system". Today he has released the PS3's exploit to the world. The exploit would give full memory access and therefore ring 0 access from OtherOS. What exactly does that mean? Who the heck knows, but how can you not have faith in the guy.
But, seriously how many people have the knowledge, money and team to pull this off right now? Geo has set the ground work, so all that's left to do, is the baking, and of course the icing on the cake. But that is easier said than done. Let's go back sometime when the PS2 initially got hacked.