Xbox 360 DVD firmware hacked?

Apparently it's nowhere near the type of hack that would allow you to run unsigned code on your Xbox 360, but due to Microsoft forgetting to "remove the debug routines from the [firmware]," (whatever that means) some hackers have managed to get a burned copy of PGR3 running on the 360. Turns out these are the same guys who turned out the DVD firmware hack for the original Xbox, so things look pretty legit, and the video of the burned disc up and running seems to verify their claims. The team of hackers, headed by TheSpecialist, isn't going to release the actual modified firmware since they're not quite into piracy, but the security details are available on the web so we're sure their results -- if real -- will be soon duplicated.

[Via Max Console; thanks to everyone who sent this in]

Watch - Video of PGR3 running [18.7MB]
Read - Xbox Hacker forum post