Following up on the PS3 Master Key news and his previous work, today via xorloser's blog graf_chokolo has confirmed that he has decrypted several PS3 SELF files including LV2_Kernel.self and is currently working on PlayStation 3 Firmware 3.50 decryption now.
To quote: Guys, i was not idle again :) I'm able now to decrypt lv2_kernel.self, ps2_emu.self, ps2_softemu.self and ps2_gxemu.self from 3.41 firmware by using metldr and lv2ldr directly.
I'm working now on 3.50 decryption :) $ONY changes something in 3.42 and 3.50 :)
I will make everything public very soon, as usually.
lv2_kernel.self from debug 3.41 decrypted.
lv2_kernel.self from 3.15 decrypted :)
lv2_kernel.self from 2.43 (service jig) decrypted :)
I will get my devboard tomorrow, Let the fun begin.
hmm some good news, kinda made my day better seeming that about 30 mins ago i just found out that sony just released a new FW patch that kills the downgrade. Hopefully we will be able to have cfw soon or jailbreak the new FW 3.55