
"PSX-scene.com reports that the first PS3 modchip has been tested and confirmed to be working. Running off of a USB dongle, it appears to be relatively user friendly and claims to not void your warranty. Online gameplay works (at least for the time being). It's been a long time coming; cheers to the PS Jailbreak Guys." The video is attached below if you're curious. Can't help but point out that this wouldn't have happened if Sony hadn't decided to yank the Boot Other OS option.
I have been in contact directly with the manufacturer and can confirm some things you have all been asking about...
1. FAT32 is currently supported. They are working on NTFS.
2. They recommend staying on current firmware and not updating until they have deemed it safe. The dongle is fully updatable.
3. Online play does work but they cannot guarantee that it will work with all future titles.
4. Final retail units are ready to ship.
5. Official reseller list will be on their site in the next 48 hours. You can pre-order from any of the official resellers. There are websites out there now claiming to be selling but they are not legitimate. Don't get ripped off. Wait until the official list is posted.PS Jailbreak is a USB plug and play solution that installs in seconds, keeping your valid warranty seal in tact.
Easy to use installer and GUI takes you step by step.
Compatible with all production models FAT and SLIM. Supports all regions: USA, JAP, PAL and KOREA
PS Jailbreak disables forced software updates and will never brick your console.
Supports all games (it does not allow backups of bluray movies , dvd movies , or past consoles games)
Backup games to your internal hard drive or external hard drive through USB, and boot directly off GUI. Eliminating the need for expensive blueray burners and costly blank media.
Play backups off your hard drives 2x as fast as off the blueray drive. This eliminates lags and glitches to provide you with smoother game play.
Open up your console to a new generation of homebrew applications. Load homebrew apps/games off any USB hard drive/flash drive.
Fully updatable with new features/updates by connecting PS Jailbreak to any computers USB port.

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