Correct- there is no current PS3 iSO Loader yet. However, the first step is really to start burning some of these images to Blu-ray recordable media and try "Hot-Swapping" with the PS3 disassembled. If they don't even allow the game to continue running when Hot-Swapped with an original disc of the same title, then chances are it'll be an uphill battle unless an exploit or something similar is discovered.
It sucks that the Other OS can only use 256MB of PS3 memory. Someday we'll probably be able to change that if the PS3 truly does function like a computer.
However, if OS X is running on its own without linux, then it might operate smoother than if it were emulated on linux.
So all we doing is just copying the ISOs and that it??
Yes, just burn the Fedora Core 5 .iso to DVD via ImgBurn or DVD Decrypter, and burn the AddOn .iso to CD via Alcohol120%. then follow the install directions I posted earlier.
An updated version (newer date) is available here if it helps: http://kernel.org/pub/linux/kernel/people/geoff/cell/ps3-linux-distro-kit-20061208-iso/CELL-Linux-CL_20061208-ADDON.iso