Last month PSJailbreak showed the world that the PS3's security model was open to be exploited, and Sony was quick to shut down the project.
The code can be run on a hacked PSP, a TI-84 calculator, a $25 Teensy++ USB development board or a $30 AT90USBkey.
Currently, the Teensy is on backorder and buyers will likely receive it a week or so after they order it.
While the software initially had any piracy features disabled, a second build has been released with all features of PSJailbreak enabled. The software will allow for the execution of unsigned 3rd-party apps and games as well as ISOs of PS3 games.
You can view more info here: PSGroove












