X3Max allegedly manages to run homebrew without the need to downgrade
Not long after PS3 firmware 3.50 was compromised by PS Jailbreak, another group has claimed victory over the copy protection built into Sony's latest firmware for the PS3. The latest exploit is claimed to work with USB based X3Max dongle. The development is significant, because unlike its predecessors, this exploit was allegedly run by Team X3 on their test PS3 without downgrading it.
This means, you can run the latest games and connect to PSN with the convenience of running homebrew with the USB dongle based system. Nothing can be verified conclusively at this stage, but Logic-Sunrise has posted a video that shows the homebrewed PS3 signed in to PSN. The release isn't out officially, but is expected within a couple of days. Prima facie, this doesn't look like a hoax, which only signals the fact that hackers are slowly gaining edge over the PS3, which had remained untouchable so far.