it's a trade off.
you lose a lot of homebrew support unless it's signed with dex support, which Multiman is which most people wanted. Unless you're on 3.55 dex, then you have your homebrew support.
then, you lose bd functionality for movies and stuff. you can always switch back to cex, but that has a slight brick chance unless you know exactly what you're doing. you can easily switch back and forth, but if you goto (i think) kmeaw, you will brick but rogero made a safe firmware.
you can go up to the latest dex firmware and play almost any game as long as it has an update, cause you have to patch it for dex. you can switch between pretty much any dex firmware when in dex, so you could goto 3.55 dex to play your homebrew and 3.55 supported games, then bounce back up to 4.21 dex to play the latest games.
you have to have a speficially formatted external drive to get games working. much beyond that, i don't exactly understand cause i haven't made the leap. but you gotta like run a game through a program to make it work. then again, they do have it where you can stream games over lan which is pretty cool
anyways, hope that helped. cex is the standard retail console and dex is a developer console.
i personally have been staying on 3.55 cex just cause i believe in the developers and don't exactly trust myself. i have bricked a console and don't wanna do it again. patches should hopefully be rolling out again soon. it sucks we got bombarded with awesomeness
anyways, the scene is still trucking and i know if blue sh*t gets released, devs should jump all over it and ruin it.
Never there but always going back