I have read/write access to the entire system memory, and HV level access to the processor. In other words, I have hacked the PS3. The rest is just software. And reversing. I have a lot of reversing ahead of me, as I now have dumps of LV0 and LV1. I've also dumped the NAND without removing it or a modchip.
3 years, 2 months, 11 days...thats a pretty secure system
Took 5 weeks, 3 in Boston, 2 here, very simple hardware cleverly applied, and some not so simple software.
Shout out to George Kharrat from iPhoneMod Brasil for giving me this PS3 a year and a half ago to hack. Sorry it took me so long :)
As far as the exploit goes, I'm not revealing it yet. The theory isn't really patchable, but they can make implementations much harder. Also, for obvious reasons I can't post dumps. I'm hoping to find the decryption keys and post them, but they may be embedded in hardware. Hopefully keys are setup like the iPhone's KBAG.
A lot more to come...follow @geohot on twitter