It has been stated that the jailbreak has been patched on 3.42 so ***DO NOT UPDATE*** if you would still like to be able to jailbreak your PS3. It might be just a simple update to the shellcode/payload/memory address's but its anyones guess right now. So hold off on updating
well i guess the exploit would not work on 3.42 anyways because psgroove was written for 3.41. on 3.42 the memory offsets would be diffrent. so i would'nt say for sure it would not work on 3.42... i'm no expert tho.