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mchaza said:

they wont be able to play online and as soon as they put an post GT5 game in and it does its install, boom good bye games. I dont know if it detects and bricks your PS3 but they have the anti jailbreak patch on all the new games now 

AFAIK it's possible to just downgrade the PS3 again to previous GT5 firmware, so nothing happens besides not being able to play GT5 and the very few games with the new firmware update on it.... yet.