How does playstation 3 modding work?

Hello I would like to know how playstation 3 modding works.
I dont wanna know HOW to do it but what happens when I have my playstation 3 modded.

I'm owner of a modded xbox 360 which was modded for about 2 years to play backups on. It's now flagged and will be banned in a few weeks/months. I'm kind of tired to spend alot of money buying a new xbox 360 and keep on upgrading firmware to not get banned.

It makes me curious cause I've never been an owner of a Playstation 3 and I would like to know how it works around, there are enough of people modding my playstation 3 so I can play backups on it. But when I have that done do I have to worry about firmware alot? and what are the downsides?

Would like to hear more, and I would like to hear of someone who owns(owned) both a modded xbox360 and ps3

I have a modded xbox 360 and a jailbroken ps3. I use the xbox online since it is safer in the sence that as long as you don't update the system firmware until after you know it won't affect you, your safe. C4eva also does an amazing job of trying to make everything safe, especially with the new LT+ 1.1 firmware that even prevents AP2.5 flags from being registered on titles that get updated to use their AP2.5 checks in the future.

As of now, there are no safety measures in the PS3 hacking scene to keep your console safe from any potential future ban. The only thing anyone has done at all is Rogero Manager, which has a stealth mode that fakes its gameid, though both the lvl2 patches and CFW are both detectable. However, speculation and past occurances suggest that $ony will probably ban PSN logins instead of the actual consoles, and that's only if they ban anything at all. This is just speculation though.

As far as your flagged xbox 360, it's a little off topic, but you can save it still. A ban on the nand (in the secdata) can be removed without requiring a jtagable console. As long as you haven't gone online with the flag, your safe. Just get a nand flasher (solderless versions exist) and look up instructions on how to unban a box.