This actually sounds pretty awesome (though pretty bad in just as many ways, of course). From what I've read through other sources, people will now be able to create their own custom programs for ps3 that are officially signed like any other ps3 software, allowing said programs to work on any ps3, regardless of official/unofficial firmware. It'll essentially be like Android. Anybody can make apps for it.
I hope we see stuff on the same level as PSP. I mainly want .mkv support, but more robust multimedia functionality in general would be awesome.
My only fear at the moment is that people will be able to use this to cheat in games or pad their Trophy scores. I hope that's not the case. That was the main reason PSP never got Trophies, after all.
