PS3 60gb 4.20 OFW Cecha01 fat help?

[NativeRAW]

Whew...finally had the patience to sit down and try my luck with this jailbreaking thing. Very intimidating indeed, so I've taken a crash course on the subject today but still I am hesitant as to what my first move is...a certain YouTube video caught my attention with all of the positive comments from this past month.

I'm just not sure as to what the possibilities of my ps3 are without having to downgrade via flasher? Being ofw 4.20 so do I go with cfw that is also close to 4.2 or how does that work?... what is my first move? 60 gb fat model 4.20 ofw CECHA01 manf. Jan 07

Thank you for your time!

[Liongooder]

The very first move is gonna be downgrading to 3.55 or lower, using a flasher, then updating to any CFW, so you can play game backups off the external HDD.