From their site, roughly translated: We were waiting for new online game about developments on custom firmware (see kmeaw, geohot and others)
When one of the brightest minds of our team has produced what we call might, the fastest possible access for the PSN.
The firmware is based on Kmeaw's custom firmware, which were added to 2 small patches which allow access to the PSN!
Access is fast, no PC is needed to serve as a "bridge" and then programs like FckPsn or charles, skipping the check of the model (debug, retail, reftool, etc..) And setting of the PS3 fw at 3.56.. (Not in the XMB)
Here is the link of the guide: http://www.ps3ita.com/forum/viewtopic.php?t=3819
Of course the risk is still high and BAN of Being a CFW, PS3ITA assumes no responsibility for any brick during installation.
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!
For those who have been following my problem of being endlessly in a firmware update loop, Just formatted the HDD after putting it in a PC, Now it works fine. So, if someone else gets into this problem, thats how you fix it!
Edit: Hm, Tried to connect and browse the internet, Now it says "An error has occoured : 80010102"
So...all this firmware did for me was add the /app/home option to the XMB, and disable my internet connection for browsing the net.