Playstation 3 security possibly defeated

Posted on Hackaday, is a video of someone claiming to have defeated the PS3 security. If this is true or not it opens the door to modify the system, or open the door to piracy. I'm not the hugest fan of piracy myself, but I am in love with the concept of modifying my console. Especially with custom firmware. Please, let them release so that we can finally customize the XMB, without the fucking Home icon.
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