Emulation is the future. A team is currently working on a new hack for the Playstation3.
The blueray player, Sony's PCB has been cracked and costs can thus be cloned. The team probably Wasabi or Wiikey team is currently working on this for the board to connect to an external HDD. This can be downloaded games played as Wasabi360 and Xkey for the Xbox360.
A major retailer in China has also indicated that this year is released.
tthousands tthoughts - Sony has not gone after Cobra or True Blue dongles makers, at least to the best of my knowledge. I wonder if they will go after this new team full force. It has been a shame to see the lengths Sony has gone to in attempts to persecute these developers deemed hackers; just look at the geohot BS trial, and the horrible treatment they gave to graf_chokolo. It seems not everyone has been scared off by their tactics, and we can only hope that this news is real and not a rumor.
Again, I would like to state that this is a RUMOR. This is GaryOPA's response to this (thanks to bitsbubba for sending me the quote ):