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Hmm... I'm waiting for my Cobra dongle to arrive so I can't test much right now, but I ran some tests on PS3MFW with the Cobra CFW. It accepted all the regular patches (LV2 kernel, package installer, application launcher and XMB game category) which means those weren't patched in the first place.
However, a few people on this thread mentioned that this kmeaw + cobra firmware doesn't work. And kmeaw has the patches mentioned above + memory mapping patch on LV1.
Now here's the interesting thing : when I tried to patch LV1 I got an error at memory mapping patch, meaning it was already patched.
So here's my theory : at boot time, Cobra CFW checks for dongle, and if it finds it, it will get the payload stored inside it and patch LV2, XMB and package installer on the RAM. This is why patching those would make the firmware not function properly with the dongle inserted. The firmware would try to patch but it will not find the piece of code that needs to be patched, simply because it was patched already, resulting in failed boot.
However, it seems that Cobra CFW already has memory mapping patched and does not load a LV1 patch out of the dongle, meaning we can safely add LV1 patches to their CFW.
In short : we can add Linux support to Cobra CFW.
What do you guys think? I will be doing some testing when I get mine but it might take a while.