CFW may be a possibility at some point, but I think part of the main problem is, we still need the encryption keys from the Cell in order to do anything truly useful. There are numerous great people/teams currently working on the problem(s) and potential solutions.
I'm by no means a dev or much of a hacker, but if I were, I'd first tackle trying to map all I/O functions within the SPEs, then move to trying to elevate privileges to run unsigned code in a mode higher than game mode, and lastly obtaining the encryption keys from the Cell and BD-Drive.
i hope the stick make exploits possible to have a real hello world.
Mate, it does allow execution of unsigned code, so a Hello World should be a piece of cake. The 'hello world' is a program used as a proof of concept that a system has been hacked, but they already made a backup launcher, so a Hello World right now has no meaning at all.