The moment we all waiting for finally arrived! Before recently had published the exploit of Geohot which until recently was not anything important in the homebrew community. Now, after studying a few trusted developers managed to create the first HEN (Homebrew Enabler) for the PS3 consoles that are compatible with all the official firmwares.
That you will be able to run several homebrews directly from your console without having to install linux. It also added that the same may be released soon and a Custom Firmware. Even the hack is not leaked to the Internet, has finalized the project, so you will need to wait few more days to be published.