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Just days after Sony got a reprieve by winning an injunction against three Australian who sold a hack that allowed Playstation 3 owners run pirated games on their console, a new jailbreak solution has emerged. Called an open source PSJailbreak solution, the new PSGroove application is however an expensive choice. Users willing to jailbreak their devices will need to first download the code on to a USB development board from Teensy or the AT90USBKey in order to be able to run unsigned third party apps and games on their PS3. These boards can cost between $25-$30 if you don’t have them already.
The jailbreak solution still is not capable of handling ISO boots that is required to run backup games (or pirated if you are of the unscrupulous variety), but that could be coming soon.