PS3 nearly hacked?

Recent stories surrounding the possible exploits in the Sony firmware for the PS3 have been growing. I remember back before they managed to get the PSP downgraded to allow unsigned code and it seemed like it would never happen but all of a sudden several stories came at once and a week later it was wide open to homebrew. Yes this does also leave the console wide open for piracy (which I don't condone) but its not the console killer its made out to be. The 360 was cracked within the first month of release but its not affected the overall sales of games. (plus the online games don't work as you get detected and banned anyways)

The benefits of having a open system is more customisation and accessability. Some of the home made programs that are available for the PSP far surpass anything official that Sony have come up with, they can actually learn alot from these gifted coders and programmers.

The stories I've seen involve exploits found in the save game data of Resistance: Fall of man and Motorstorm and there is also a exploit in a .TIFF file that crashes the PS3 (not in a bad way, just proof that un-official code runs). This reminds me of the first exploits found in a similar .TIFF file on the PSP and the game save data exploit found in the original GTA: Liberty City stories.

I love my custom firmware PSP as it has some pretty good home made games and excellent choice of applications and mods. Over-clocking the CPU is one said great feature (which some games companys now officially do to help their games run smoothly). Also the ability to have custom theme icons in the XMB (now in the official PS3 firmware) stemmed from homebrew developed privatly on the PSP.

I will be keeping my ears to the ground on this and keep you all up to date with the latest info as it comes in.