The best place to monitor for PS3 iSO Loader news/gossip is iRC EFNet #PS3News
, mainly as this is where some of the ParaGods hang out (in disguise, of course) and occasionally you may see some additional 'info/gossip' on their loader leaked there.
Here is what I can 100% confirm
thus far: Paradox DO have a PS3 iSO Loader already. It works by running the PS3 iSOs from the HDD via an exploit/security vulnerability in Firmware v1.00-1.10. Newer versions may
work as well, however, speaking with them these are the only versions they have confirmed
to me thus far as exploitable/fully working with it.
The good news is, similar to PSP we won't have to open our $600 PS3 consoles to be able to run PS3 back-up images... nor will we have to mess with expensive Blu-ray burners or BRD media.
The bad news is, as soon as news (specific tech info) of the actual exploit is public $ony will patch it IMMEDIATELY and it will be useless until another is found. This is obvious of course, but stock PS3's here in the US are already coming shipped with 1.10 firmware versus 1.00 so I'm sure it won't be long until they get shipped with even higher from the factory.
Finally, as to why else is Paradox waiting on releasing their loader? Well, unofficially speaking (since it's all just rumors anyway until something tangible is released) I've heard two reasons as follows:
1) They are waiting for the EUR PS3 launch before they share their PS3 exploit(s) publically since THEY (Paradox) are primarily a EUR release group... meaning their members wish to get as low of "stock FW" version as possible upon launch, versus releasing the exploit(s) now and then being stuck with 3.xx firmware with even more hole patches/protection for their families and friends, etc which wouldn't likely run PS3 iSOs for some time yet.
2) They are waiting on more GOOD games to come out for PS3 before sharing the exploit(s). This is because if they do it now, then $ony developers will simply update their $DK's/libs/etc and the new games will not work with their exploit(s) anyway... and the current limited number of PS3 games on the market (to them) simply aren't "worthy" of being exploited publically yet.
Finally, if someone else (another release group, etc) were to publically release the PS3 exploit information or exploit itself then Paradox would likely share theirs at that time as well (similar to how they did the PS2 Machine ID changer when CORE released their BETA one). However, Paradox simply doesn't wish to be "first" in doing so until THEY are ready (again, after the EUR PS3 launch) unless similar info is already public by someone else.
Hopefully this answers some questions... rest assured as any new info/pics/etc of the PS3 iSO Loader is available we'll pass it along here guys!