Connect the USB stick to the USB port furthest to the right of your console and start the console in recovery mode
Select option 6 (System Update), and follow the instructions that appear on the screen.
Once finished, enjoy the CFW 4.21.
Update: They have now released (via ps3-solution-pour-tous.doomby.com/blog/news-ps3/cfw-arch-4-21-finale-version-0-1-for-all-ps3.html) PS3 CFW Arch CEX 4.21 Final v0.1 for both PS3 Fat and Slim consoles (above) for those interested!
Stay tuned for more PS3 Hacks and PS3 CFW news, follow us on Twitter and be sure to drop by the PS3 Hacks and PS3 Custom Firmware Forums for the latest PlayStation 3 scene updates and homebrew releases!
"The Homebrew Channel" w/ PKG Manager sounds like NFW v3 to me, and the Cinavia patch is useless on this as Cinavia IS already disabled in REBUG, but yah all this can be done through PS3MFW Builder with all the available tcl
Got it installed tonight but didn't have alot of time to mess around with it.
Note this will not work on 4.00. The only thing that you can do with that is downgrade it (if your ps3 is old enough) and then install this.
Ok messed around with it for about 10 mins. Turned it off and on again and seen what it looked like on the boot a well rsod. It is time to break out the progskeet and get it fixed. I will do some more testing tomorrow with this to see if it something I did or the Cfw did. Thanks