First things first is seeing if it is a NOR or NAND flash model then we can help you get the proper hardware for downgrading. It is 100% possible as all phat's can be downgraded but not easily as stated. Once on a CFW you can easily load out of region Blu-ray movies by changing a setting in Multiman.
PS3 CECH-2501A [CFW] & CECH-3001 [OFW]/ PS2 SCPH-3901 & SCPH-7501/ PS1 SCPH-5501
Mod Cobra 4.46 v7.00 w/ E3 Flasher [CFW] & Cobra ODE 4.50 [OFW]/ Mod HDD-OSD [Phat] & Modbo 4.0 [Slim]/ Mod MM3
HDD 1tb [CFW] & 640gb [OFW]/ HDD 640gb & OPL v0.92 w/ 1.5tb SMB