PS3 root key saga continues, with hacker Geohot posting a video demonstrating homemade software running on a PS3 using firmware 3.55. There's not much to the software, essentially a reworked "Hello World" that says "sup dawg, it's geohot," but it's more than enough to prove viability of homebrew software on the PS3.
Sony, for its part, has stated to Edge that it will "fix the issues through network updates, but because this is a security issue, we are not able to provide you with any more details." However, fail0verflow hacking group member pytey recently told the BBC, "The complete console is compromised - there is no recovery from this." He added that the only possible way to correct the hack would be for Sony to "issue new hardware."