http://www.ps3news.com/forums/site-news/breaking-news-ps3-xmb-hole-found-blu-ray-back-ups-bootable-75883.html

Just over 24 hours after we reported the PS3 $DK leak, resident Dev'er hacked2123 shared with us in iRC EFnet #PS3News the video below... which shows confirmation of the World's first public PS3 XMB Hole (vulnerability) found!! There are MANY details to report, so please bear with us while we address each throughout the night.

For starters, this specific PS3 XMB Hole is currently present in PS3 v1.00-1.11 Firmware. Jumping ahead briefly... it's now believed the reason why the GODS @ Paradox hinted that v1.60+ Firmware was NOT recommended to update to was simply because there is no OtherOS installer present. Also, at this time it's important to NOTE that PS3 Blu-ray Disc back-ups will boot but not run just yet.

We will cover all of the details on how this is accomplished shortly... until then, you can watch the video below:

Wow, sales may pick up if they successfuly run back ups on the PS3, how much is the cost for a virgin BR disk?

This could be like the DC all over agian.

PS3, following the path of the PSP....

So who thinks sales are going to rise? who thinks sales are going to fall and who thinks that sales will stay the same?

whats the cost of a Br burner, thats the real question.

Hole found now, will be sealed with next update. It will be a cat and mouse game beteewn dce and hackers.

It's gonna be pretty difficult to find a PS3 with such early firmware nowadays.

Last I looked, which was a few weeks ago, the cost of a Blu-Ray burner for your PC is $600.  Blank discs are about $12 to $15.

Cool news for us ps3 owners, although I doubt it will effect sales

ZOMG!!! Non-event.

at this stage it's almost cheaper to just buy the games.

In a year or so is when the hole will be wide open (in the way the PSP is, each firmware update is worked around in a matter of days), and blu-ray burners and discs will be cheap enough to make it worthwhile.

Of course, Sony doesn't want this to effect sales now, because every modded PS3 they sell right now is costing them money. Generally, you want the modded consoles to appear when you are already making a profit on the consoles, increasing your money and bringing your install base up.