First of all I'd like to introduce myself as a new member to the PS3 Jailbreak community. I have to commend you all, I've been reading through the forums and it seems like this is full of a lot of technically-skilled people.
I have three major questions here that I would like to receive feedback on. I just ordered a PS3 on eBay that is a 40GB Fat Console with 3.55 firmware. I will be planning on jailbreaking it once it arrives and to use it to backup some games that I would like to buy. With only 40GB of internal space, however, I am worried that I may not be able to play my backed-up games because of the limited space. God of War III, for instance, is my favorite game which I believe will come in at over 40GB alone. I understand that I can backup my games to an external hard drive but I am confused as to (1) whether or not you can play them off the external hard drive, as well.
(2) I've been reading the tutorials and was wondering, also, what you guys feel is the best tutorial to follow to jailbreak and then install MultiMan. If you have any particularly useful tutorials that you followed in the past, please feel free to share them. I will also be checking out the Sticky's on this site, as well.
Finally, (3) what jailbreak / homebrew combo are your guys' favorites? I am planning on doing just GeoHot's jailbreak and installing MultiMan.
I look forward to all your responses / expertise and thank you in advance!