If you haven’t updated to official firmware v3.21 yet because no OtherOS support, here is some good news for you. iPhone and PS3 hacker George Hotz (aka GeoHot) has released a video showing his custom firmware in action with the OtherOS functionality still enabled. The custom firmware hasn’t been released yet but using it on your PS3 does not require any hardware or software hacks.
The custom firmware can only be used by those still on firmware v3.15 or lower. GeoHot writes the following on his blog:
This can be installed without having to open up your PS3, just by restoring a custom generated PUP file, but only from 3.15 or previous. It’s possible this CFW will also work on the slim to actually *enable* OtherOS; I’ll know when my infectus gets here.
No release date yet, use the proxy hack to play online with 3.15