You are completely free to do with your hardware what you want to do with it. However, MS and I'm sure Sony, have guidelines that you must abide to use their service(Xbox Live). No hacked firmwares are allowed on Live. I'm sure there is a similar rule on whatever PS3's online is named. Thats my only point. I would have hacked firmware if I did not rely on Live.
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You are completely free to do with your hardware what you want to do with it. However, MS and I'm sure Sony, have guidelines that you must abide to use their service(Xbox Live). No hacked firmwares are allowed on Live. I'm sure there is a similar rule on whatever PS3's online is named. Thats my only point. I would have hacked firmware if I did not rely on Live.