PS3 finally properly hacked?

In a post titled “Hello hypervisor, I’m geohot,” hacker George Hotz (already known in the iPhone community) has made a strong claim: that he has cracked the PS3[...]In a post titled “Hello hypervisor, I’m geohot,” hacker George Hotz (already known in the iPhone community) has made a strong claim: that he has cracked the PS3. The system has remained (mostly) uncompromised for over three years now, with a few exceptions here and there . But, this one pledges full read/write access to the entire system memory and complete control over the processor — all without a mod chip. Has he really done it, if so how, and what comes next

The full post can be found on Engadget