I'd like to know too about Paradox. After all, they seemed close to success (didn't they even claimed that it worked on every but European Ps3s?) and suddenly stopped any news... After all, they never showed any proof (correct me if I'm wrong) but as they are a well-known Hacking group we all trusted them. Could we call that the first Ps3 hoax? ^^
I'm sure a hole will be found. I don't know for sure, but I think that every system has it's weaknesses. The more complex a system is, the more likely it is to have flaws, isn't it?
as far as I know we can READ now but also WRITE so... I think that the reverse enginnering on the Hypervisor is for understand how it work and will be the start point for create a new homemade version of the hypervisor that allow us to have the FULL CONTROL of the PS3.