Hacker George "GeoHot" Hotz, who along with the fail0verflow team have in the past week cracked the PS3 wide open, has posted up a video showing the exploits in action.

What you're about to see won't rock your world, as he only boots a "hello world" message, but regardless of what he put on the screen the proof seems to be in his PS3-flavoured pudding: he could install stuff off a USB stick, get it running, and the console is now ready for homebrew.

As soon as people can whip up some decent homebrew applications, at any rate.